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Hive Digital Unit Signs $350 Million AI Cloud Deal

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Hive Digital Technologies (HIVE) said Monday its Buzz High Performance Computing unit signed a five-year artificial intelligence cloud agreement worth about $350 million with an enterprise customer.

The contract will generate around $70 million in annual recurring revenue using a cluster with 2,016 Nvidia (NVDA) Blackwell Ultra GPUs, the company said.

Capital expenses for the project will reach roughly $185 million, supported by a $35 million customer deposit, HIVE Digital Technologies said.

Shares of the company were up more than 8% in Monday premarket activity.

Price: $2.91, Change: $+0.22, Percent Change: +8.20%

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