HIVE Digital Technologies Ltd. (TSX: HIVE) (NASDAQ: HIVE) Makes TSX Top Gainer List Riding AI Wave
The stock makes the TSX top gainer list today, currently at $4.2500 +0.2500(+6.25%), riding the AI wave in today's retail trading.
HIVE Digital Technologies Ltd. is a global leader in sustainable digital infrastructure, building and operating renewable energy-powered data centres that support high-performance AI computing. Through its wholly owned subsidiary, BUZZ High Performance Computing Inc., HIVE delivers sovereign AI cloud infrastructure. HIVE's dual-engine strategy combines long-life digital infrastructure assets with renewable energy to generate diversified, long-term cash flows across AI infrastructure and digital asset mining.
On August 17th HIVE Digital Technologies announced "HIVE's BUZZ HPC Signs $350 Million AI Cloud Services Agreement with Investment-Grade Enterprise Customer"
The agreement represents approximately $350 million in total contract value ("TCV") over five years and adds approximately $70 million in annualized revenue ("ARR 1"). This brings BUZZ HPC's total annualized revenue to approximately $180 million, comprised of approximately $35 million in active, realized ARR today and approximately $145 million in contracted ARR expected to come online through Q4 2026. The contract is expected to generate attractive long-term economics and meaningful recurring cash flow as the cluster reaches full deployment.
Under the agreement, BUZZ HPC will deliver a dedicated AI infrastructure cluster consisting of 2,016 NVIDIA Blackwell Ultra GPUs inNVIDIA GB300 NVL72 rack-scale systems, interconnected withNVIDIA Quantum -X800 InfiniBand networking and supported by VAST Data's high-performance storage platform. The system is being designed in accordance with NVIDIA's reference architecture to support large-scale AI training, inference and advanced enterprise workloads.
The cluster is expected to become operational later this year at the Bell AI Fabric facility in Merritt, British Columbia.
The Merritt facility is powered by 100% renewable hydroelectric energy and utilizes advanced closed-loop liquid cooling technology, eliminating ongoing water consumption for cooling and reinforcing BUZZ HPC's commitment to delivering sustainable, high-performance AI compute infrastructure.
AdvertisementAccelerating BUZZ HPC's AI Cloud Growth
The new contract represents another significant step in the rapid expansion of BUZZ HPC's AI cloud platform and demonstrates the Company's ability to secure large-scale, long-term commitments from investment-grade customers.
The five-year term provides BUZZ HPC with long-term contracted revenue visibility while supporting the Company's strategy of building a portfolio of high-performance accelerated computing infrastructure serving Canadian sovereign AI requirements, global enterprises and leading AI organizations internationally.
The dedicated cluster will support advanced AI training and inference workloads while leveraging BUZZ HPC's expertise in NVIDIA accelerated computing, high-performance networking, enterprise storage and AI cloud infrastructure.
Management Commentary
Frank Holmes, Executive Chairman of HIVE Digital Technologies, said:
Aydin Kilic, President and Chief Executive Officer of HIVE Digital Technologies, said:
Craig Tavares, President and Chief Operating Officer of BUZZ High Performance Computing, said:
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