HIVE Digital (HIVE) Stock Jumps 8% on $350 Million GPU Cloud Deal

TLDR

• HIVE Digital’s subsidiary BUZZ HPC signed a five-year, $350 million GPU cloud services deal with an investment-grade enterprise customer.
• The contract adds roughly $70 million in annualized revenue, bringing BUZZ HPC’s total annualized to around $180 million.
• BUZZ HPC will deploy 2,016 NVIDIA Blackwell Ultra GPUs at a facility in Merritt, British Columbia.
• HIVE stock rose approximately 8% in premarket trading on Monday following the announcement.
• Capital expenditures for the deployment are expected to total around $185 million, with a 10% upfront deposit from the customer.

HIVE Digital Technologies (NASDAQ: HIVE) rose about 8% in premarket trading Monday, hitting $2.91, after announcing a major new contract through its subsidiary BUZZ High Performance Computing Inc.

HIVE Digital Technologies Ltd., HIVE

BUZZ HPC signed a five-year GPU cloud services agreement with an investment-grade enterprise customer worth approximately $350 million. The deal adds around $70 million in annualized revenue to BUZZ HPC’s books.

That brings BUZZ HPC’s total annualized revenue to roughly $180 million. Of that, around $35 million is currently active, with the remaining $145 million in contracted revenue set to come online through Q4 2026.

$350,000,000.

5-year term.
$70M in new ARR.
2,016 NVIDIA Blackwell Ultra GPUs.
100% hydro-powered.

Merritt, BC goes live Q4.

Full release 👇 pic.twitter.com/56580220A0

— HIVE Digital Technologies (@HIVEDigitalTech) August 17, 2026

Under the agreement, BUZZ HPC will deploy 2,016 NVIDIA Blackwell Ultra GPUs in GB300 NVL72 rack-scale systems. The setup will use NVIDIA Quantum-X800 InfiniBand networking and VAST Data’s storage platform.

The cluster is expected to go live later this year at the Bell AI Fabric facility in Merritt, British Columbia. The site runs entirely on hydroelectric power and uses closed-loop liquid cooling, which eliminates ongoing water consumption.

HIVE will retain ownership of the NVIDIA AI infrastructure once the deployment is complete. Delivery and deployment are expected in Q4 2026.

Funding the Deal

Capital expenditures for the deployment are expected to total around $185 million. HIVE will receive an upfront deposit of roughly 10% of the total contract value.

CEO Aydin Kilic said the company is using proceeds from its June 2026 convertible bond and debt financing to fund the GPU purchase. HIVE also said it has approximately 400 MW of capacity in Canada available for future data center development.

The company said the deposit, combined with previously announced financing and equipment financing, is expected to support the full deployment.

What Analysts Are Saying

HIVE carries a Buy rating from analysts, with an average price target of $6.80. The range runs from a low of $4.60 to a high of $10.00 across 10 analysts.

Recent moves include Chardan Capital initiating coverage with a Buy and a $7.50 target in July, while Canaccord Genuity maintained its Buy with a $10.00 target in June.

From a technical standpoint, HIVE is trading 13.6% below its 50-day moving average of $3.36 and 5.8% below its 100-day moving average of $3.08. Key resistance sits near $3.00, around the 200-day moving average zone.

HIVE premarket stock price was up 8.16% at $2.91 on Monday morning.

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