HIVE Digital’s $30M GPU Cluster Boosts ARR to $35M, Secures 5MW Lease
HIVE Digital’s $30M Nvidia Blackwell GPU cluster boosted ARR from $20M to $35M and a newly signed 5MW British Columbia lease is projected to generate $60M annually. CEO Aydin Kilic said HIVE will pursue two AI models, shifting to GPU contracts with 2× ROI and 2.5-year payback versus 7–8 years.
1. AI Cluster Deal Boosts ARR and Canadian Expansion
HIVE deployed a $30 million Nvidia Blackwell GPU cluster that lifted annual run rate revenue from $20 million to $35 million, and signed a five-megawatt lease in British Columbia projected to generate $60 million in annual revenue from AI compute services.
2. Strategic Shift to Long-Term GPU Contracts with Strong ROI
CEO Aydin Kilic outlined a dual strategy pursuing both powershell and neo-cloud AI models, noting owned-and-operated farms achieve ROI in 2–3 years while powershell setups take 7–8 years. HIVE’s AI GPU cloud delivers a 2.5-year payback, and the firm is moving to five-year contracts to secure 2× ROI plus residual GPU value.
3. Ceased Swedish Bitcoin Mining Due to Tax Structure
The company halted Bitcoin mining operations in Sweden after tax regulations eroded profitability, redirecting resources toward its expanding AI infrastructure and GPU cloud initiatives.