HIVE Digital Technologies’ HPC unit BUZZ inks $30M in AI cloud contracts

HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE, FRA:YO0, BVC:HIVECO) announced that its BUZZ High Performance Computing portion has signed lawsuit agreements representing astir $30 cardinal successful full declaration worth implicit two-year fixed terms, marking what the institution described arsenic advancement successful its artificial quality unreality strategy.

BUZZ, the company’s Canadian Tier-III high-performance computing information halfway platform, is expanding arsenic HIVE’s AI-focused concern alongside its existing Tier-I hashrate services operations. The institution said the caller contracts enactment the archetypal signifier of BUZZ’s AI-optimized GPU deployment astatine its Canada West tract successful Manitoba.

Compute capableness from the archetypal signifier is expected to travel online successful the 4th ending March 31, 2026. The deployment volition see 504 liquid-cooled Dell server-based GPUs designed for AI and HPC workloads.

Based connected executed contracts, existent pricing and deployment schedules, absorption expects the archetypal signifier to make astir $15 cardinal successful yearly recurring gross for BUZZ’s unreality concern erstwhile afloat operational.

The institution said that, upon afloat deployment, it expects full annualized gross attributable to HIVE’s HPC conception to summation to astir $35 cardinal from astir $20 cardinal currently.

To enactment the expansion, HIVE expects to incur superior expenditures related to GPU purchases, electrical and cooling infrastructure, and moving capital. Anticipated operating expenses see power, hosting, maintenance, staffing and web costs.

BUZZ said it continues to grow capableness astatine the Canada West tract successful enactment with executed lawsuit agreements.

"We are entering 2026 with beardown momentum successful our HPC and GPU unreality business. HIVE has built a way grounds arsenic 1 of the longest-standing publically traded crypto Tier-I information halfway operators, performing done aggregate marketplace cycles portion protecting currency travel and equilibrium expanse strength,” HIVE enforcement president Frank Holmes said.

“Now, with BUZZ, we are leveraging that instauration to physique a high-growth AI unreality level spanning Canada, Sweden, and Paraguay.”

Aydin Kilic, HIVE CEO, said the institution is targeting astir $140 cardinal successful yearly recurring gross implicit the adjacent twelvemonth for its HPC GPU AI unreality business, taxable to marketplace conditions and palmy infrastructure deployment.

“This is conscionable the beginning,” Kilic said. “Demand for semipermanent entree to high-performance, power-efficient AI compute continues to grow globally, and we are excited to further standard our GPU unreality concern passim 2026."

Shares of HIVE added 4.1% successful Toronto and 4.2% successful New York.