HIVE Digital Technologies reports $180M in contracted GPU cloud business

HIVE Digital Technologies is building what looks like a second company inside itself. The Bitcoin miner just announced a five-year GPU cloud services agreement worth roughly $350M with an unnamed investment-grade enterprise customer, pushing its total annualized GPU cloud revenue toward $180M. That $180M figure breaks down into $35M in revenue already flowing and $145M contracted but not yet live, with full deployment expected by the end of Q4 2026. The company’s target is even more ambitious: $200M in annualized recurring revenue from GPU cloud services by year-end. Two massive deals in two months The new contract, signed through HIVE’s subsidiary BUZZ High Performance Computing Inc., is expected to add approximately $70M in annualized recurring revenue. It involves deploying 2,016 NVIDIA Blackwell Ultra GPUs at Bell AI Fabric’s facility in Merritt, British Columbia. Once that deployment goes live in Q4 2026, it should generate around $500K in daily HPC and AI revenue. For context, that’s roughly two-thirds of what HIVE currently pulls in daily from Bitcoin mining, which sits at about $750K per day. This wasn’t even the first blockbuster deal of the summer. Back in June 2026, HIVE...