HIVE outlines AI expansion plans during earnings call

Bitcoin mining companies have spent years promising they’d be more than just mining companies. HIVE Digital Technologies is now putting serious money behind that claim. During its Fiscal Q1 2027 earnings call on August 17, HIVE announced a five-year GPU cloud services agreement worth approximately $350 million through its subsidiary BUZZ HPC. The counterparty is an unnamed investment-grade enterprise customer. What the deal actually looks like The contract centers on the deployment of 2,016 NVIDIA Blackwell Ultra GPUs, configured in GB300 NVL72 rack-scale systems with InfiniBand networking. On the revenue side, the agreement is projected to generate approximately $70 million in annualized recurring revenue. Add that to what BUZZ HPC was already carrying, and the subsidiary’s total contracted ARR reaches around $180 million. Earlier in 2026, HIVE announced a separate $225 million three-year contract, also through BUZZ HPC. The company has now stacked two substantial multi-year commitments in fairly quick succession. For context on the capital intensity involved, HIVE referenced approximately $185 million for one recent GPU cluster build-out. The dual-engine strategy taking shape HIV...