HIVE Digital Secures $350M AI Cloud Services Contract

Key Facts

In a move reflecting the surging demand for AI infrastructure, HIVE Digital Technologies has announced a major agreement to provide cloud computing services. According to reports, the contract is valued at $350 million, with the company’s subsidiary, BUZZ HPC, set to deliver a dedicated AI infrastructure cluster to an investment-grade enterprise customer. This agreement aims to leverage HIVE's high-performance computing (HPC) capabilities to meet expanding market requirements.

The deal specifics include the deployment of NVIDIA Blackwell Ultra GPUs within advanced rack-scale systems, with the agreement expected to add approximately $70 million in annualized revenue. The company is set to receive an upfront deposit of 10% of the total contract value, amounting to roughly $35 million. This initiative supports the company's strategy to operate data centers powered by renewable energy in Canada, with equipment deployment targeted for the fourth quarter of this year.

Regarding market performance, updated price data for HIVE shares is currently unavailable as of the August 17, 2026 close. On the macroeconomic front, traders are looking ahead to the US Inflation Rate (CPI) data scheduled for release on August 12, 2026, which may influence risk appetite in the tech and growth sectors. Investors are also monitoring the OPEC Monthly Report on the same day to gauge the impact of energy costs on power-intensive data center operations.