HIVE bets $185 million on 2,016 Blackwell Ultra GPUs to chase a $200 million ARR target

HIVE Digital Technologies announced Monday that its subsidiary BUZZ HPC has secured a five-year, ~$350 million contract for GPU cloud computing services with an unnamed investment-grade company.

The company expects the deal to drive its high-performance computing revenues to about $500,000 a day once the hardware is up and running in the fourth quarter.

BUZZ HPC stacks a second contract on the Bell deal

The agreement adds ~$70 million in annualized recurring revenue, and BUZZ HPC’s total annualized revenue rises to about $180 million.

Of that, about $35 million is realized today. The other $145 million is under contract to become operational through the end of 2026.

This is the second major GPU commitment HIVE has announced since June. At the same site, BUZZ HPC’s prior three-year, $220 million sovereign AI cloud deal deploys NVIDIA Grace Blackwell systems for Bell and Cohere.

Chief executive Aydin Kilic said, “We are pleased to announce this agreement as we accelerate towards our year-end target of $200 million of ARR for our GPU cloud business.”

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