HIVE unit BUZZ HPC signs five-year GPU cloud services deal worth USD 350 million

HIVE Digital Technologies said its BUZZ HPC unit signed a five-year GPU cloud services contract with an investment-grade enterprise customer worth about USD 350 million.

The company said the deal adds about USD 70 million in annualized revenue, bringing BUZZ HPC annualized revenue to about USD 180 million.

The dedicated cluster will include 2,016 NVIDIA Blackwell Ultra GPUs and is expected to go live later this year in Merritt, British Columbia.

Deployment capex is expected to be about USD 185 million, and the customer is expected to pay an upfront deposit of about 10% of the total contract value.

GPU infrastructure delivery and deployment are expected in calendar Q4, with HPC/AI daily revenue projected at about USD 500,000.