HIVE Digital Technologies signed a 350 million dollar, five-year AI cloud contract with an unnamed enterprise customer. The deal requires installing 2,016 NVIDIA Blackwell Ultra GPUs at the Bell AI Fabric facility in Merritt, British Columbia, at an estimated cost of 185 million dollars. BUZZ’s annualized AI revenue will rise to approximately 180 million dollars, but only 35 million is currently active, with the remaining 145 million dependent on infrastructure completion in Q4 2026. HIVE holds 208 million dollars in cash and raised 130 million dollars through zero-percent exchangeable senior notes in June, without disclosing the amount allocated to this project. The deal provides a significant committed AI demand pipeline, but its economics now depend on securing remaining financing, on-time GPU delivery and commissioning, and converting contracted capacity into live revenue by year-end.
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