Overview
- On Monday, August 17, 2026, HIVE said its BUZZ High Performance Computing unit signed a five-year, about $350 million agreement with an unnamed investment-grade customer to host GPU cloud services.
- The deal adds roughly $70 million in annualized recurring revenue and lifts BUZZ HPC’s total contracted GPU ARR to about $180 million with management aiming for near $200 million by the end of Q4 2026.
- The deployment will install 2,016 NVIDIA Blackwell Ultra GPUs in GB300 NVL72 racks using NVIDIA Quantum-X800 InfiniBand networking and VAST Data storage at Bell AI Fabric’s Merritt, British Columbia facility.
- HIVE plans roughly $185 million of capex for the build, has received a $35 million upfront deposit, expects about $500,000 in daily revenue once live, and warns that schedule slips could push revenue into 2027.
- Following a June $220 million deal with Bell and Cohere, this contract underscores HIVE’s strategic shift from Bitcoin mining toward predictable, contract-backed AI compute services that run on renewable hydro power and closed-loop liquid cooling.