HIVE Digital Shares Jump 11% on Five-Year, $350 Million GPU Cloud Contract

3-line summary

• HIVE Digital Technologies shares jumped 11% to $2.98 after the bitcoin miner signed a five-year, $350 million GPU cloud services agreement through its BUZZ High Performance Computing subsidiary with an unnamed investment-grade enterprise customer, according to a Yahoo Finance report.
• The deal is expected to generate approximately $70 million in annualized revenue, bringing BUZZ HPC's total annualized revenue to $180 million, nearing the company's $200 million ARR target for its GPU cloud business.
• BUZZ HPC will deploy a dedicated cluster of 2,016 Nvidia Blackwell Ultra GPUs in Nvidia GB300 NVL72 rack-scale systems at the Bell AI Fabric facility in Merritt, British Columbia, using Nvidia Quantum-X800 InfiniBand networking and VAST Data's storage platform.

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