HIVE Digital Technologies has signed a three-year agreement with Bell AI Fabric, a Bell Canada subsidiary, worth approximately $225 million to deploy 2,304 NVIDIA GB200 GPUs in Merritt, British Columbia. The deal is expected to generate about $75 million in annual recurring revenue once the cluster is operational, with deliveries due in late 2026 or early 2027. HIVE secured a three-year fixed-rate loan of $129 million at 9% interest to help finance the cluster, which costs approximately $165 million. If the plan is completed, the company will retain the hardware and repay the debt when the contract ends, although delivery delays could postpone revenue. The deal forms part of a broader expansion: HIVE signed GPU agreements worth approximately $600 million in 2026 and is targeting $200 million in annual recurring GPU cloud revenue by year-end, compared with $185 million in contracted revenue as of September 30, 2026.
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