- BUZZ High Performance Computing, the data-centre subsidiary of HIVE Digital Technologies (TSXV/NASDAQ:HIVE), signed US$30 million in AI cloud contracts
- HIVE, founded in 2017, is the first public company to mine digital assets powered by green energy
- HIVE Digital Technologies stock has given back 28.08 per cent year-over-year and more than 85 per cent since 2021
BUZZ High Performance Computing, the data-centre subsidiary of HIVE Digital Technologies (TSXV/NASDAQ:HIVE), signed US$30 million in AI cloud contracts, over two-year fixed terms, adding momentum to HIVE’s diversification away from its legacy Bitcoin mining business.
The contracts coincide with BUZZ’s GPU deployment at its Canada West location in Manitoba, the first phase of which includes 504 Dell server-based GPUs designed for AI and high-performance computing (HPC) workloads.
New capacity, slated to come online during the quarter ending March 31, 2026, puts BUZZ’s cloud business on track for approximately US$15 million in annual recurring revenue (ARR) during phase-one development.
Upon full deployment of all executed contracts, HIVE leadership expects its HPC segment to reach US$35 million in ARR, up from US$20 million currently, reflecting robust demand.
The milestones follows record revenue for both BUZZ and its parent company in fiscal Q2 2026, supported by adjusted EBITDA of US$31.5 million, almost triple the year-over-year figure, suggesting HIVE’s growth is on an efficient trajectory.
Management commentary
“We are entering 2026 with strong momentum in our HPC and GPU cloud business. HIVE has built a track record as one of the longest-standing publicly traded crypto Tier-I data center operators, performing through multiple market cycles while protecting cash flow and balance sheet strength,” Frank Holmes, executive chairman of HIVE Digital Technologies, said in Friday’s news release. “Now, with BUZZ, we are leveraging that foundation to build a high-growth AI cloud platform spanning Canada, Sweden and Paraguay.”
“Our vision is to scale our HPC GPU AI cloud business toward approximately US$140 million in ARR over the next year, subject to market conditions and successful infrastructure deployment. As we execute, this growth will be supported by continued investment in infrastructure and operations. In our previous earnings webcast, we outlined a target deployment of 2,000 AI-optimized GPUs at our Canada West facility this year,” added Aydin Kilic, HIVE’s president and chief executive officer. “This is just the beginning. Demand for long-term access to high-performance, power-efficient AI compute continues to expand globally, and we are excited to further scale our GPU cloud business throughout 2026.”
“Canada requires more sovereign AI compute capacity, both to serve domestic workloads and to support global AI companies from a secure Canadian base,” commented Craig Tavares, Buzz’s president and chief operating officer. “With Dell and Bell Canada as key partners, we are scaling GPU capacity with the infrastructure, connectivity and resiliency needed to compete on a global stage.”
About HIVE Digital Technologies
HIVE Digital Technologies, founded in 2017, is the first public company to mine digital assets powered by green energy. The company builds and operates data centers for Bitcoin mining and high-performance computing across Canada, Sweden and Paraguay.
HIVE Digital Technologies stock (TSXV:HIVE) last traded at C$2.92 and has given back 28.08 per cent year-over-year and more than 85 per cent since 2021.
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