HIVE Digital Technologies stock surged 13% after announcing a five-year contract worth $350 million with an unnamed enterprise customer. Its subsidiary BUZZ High Performance Computing will deploy a cluster of 2,016 Nvidia Blackwell Ultra GPUs at the Bell AI Fabric facility in Merritt, British Columbia. The contract will 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. HIVE put down an upfront deposit of $35 million and estimates capital expenditure at $185 million, while retaining ownership of the infrastructure after the contract term. The facility is expected to be operational by Q4 2026.
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