HIVE stock jumps 13% on Nvidia-linked $350M AI deal

HIVE Digital Technologies just landed the kind of deal that makes Wall Street forget you ever called yourself a Bitcoin miner. The company’s subsidiary, BUZZ High Performance Computing, announced a five-year agreement valued at roughly $350 million with an unnamed investment-grade enterprise customer for GPU cloud services. Shares responded accordingly, climbing as much as 13%. The contract will deploy a cluster of 2,016 Nvidia Blackwell Ultra GPUs at the Bell AI Fabric facility in Merritt, British Columbia. It’s expected to generate approximately $70 million in annual recurring revenue, bringing BUZZ HPC’s total contracted ARR to around $180 million, within striking distance of its $200 million target. Inside the deal The GPU infrastructure will run on Nvidia’s GB300 NVL72 systems, paired with Quantum-X800 InfiniBand networking and VAST Data storage. The customer put down an upfront deposit of roughly $35 million, about 10% of the total contract value. HIVE estimates capital expenditure for the deployment at approximately $185 million, meaning the company is spending a little more than half the contract’s total value to fulfill it. One detail worth flagging: HIVE retains ownership...