HIVE Digital Technologies lands $350M GPU cloud contract, deploys 2,016 Nvidia Blackwell chips in Q4

HIVE Digital Technologies has secured a five-year GPU cloud services agreement worth approximately $350 million, deploying 2,016 Nvidia Blackwell Ultra GPUs at a facility in Merritt, British Columbia. The contract, announced through HIVE’s BUZZ HPC subsidiary, is expected to go live in Q4 2026 and generate around $500,000 in daily revenue once operational. The unnamed customer is described as an investment-grade enterprise. The deal adds roughly $70 million in annualized recurring revenue to BUZZ HPC’s books. What the numbers actually mean Before this contract, BUZZ HPC had approximately $35 million in active realized ARR. Add the $145 million in contracted ARR this deal brings, and the subsidiary’s total annualized revenue run rate reaches around $180 million. Management has set a GPU ARR growth target of approximately $200 million by the end of Q4 2026. The capital expenditure tied to the deployment runs to approximately $185 million. A $35 million upfront deposit from the customer offsets a meaningful slice of that outlay. The specific hardware is Nvidia’s GB300 NVL72 rack-scale systems, part of the Blackwell Ultra generation. HIVE has previously deployed B200 and H200 clusters....