HIVE Digital Stock Surges 11% on Record $350M AI Cloud Services Contract

Key Facts

In a move reflecting the strategic pivot of crypto miners toward AI infrastructure, HIVE Digital Technologies announced its largest AI cloud services contract to date. According to reports, HIVE shares surged 11% to reach $2.98 following the unveiling of a $350 million GPU cloud services agreement. This deal signals a significant diversification for the company beyond bitcoin mining, aiming to provide a substantial boost to its annualized revenue streams.

The contract involves deploying a dedicated cluster of NVIDIA Blackwell Ultra GPUs at the Bell AI Fabric facility in British Columbia, which is expected to generate approximately $70 million in annualized revenue. Per market context, while peer Cipher Mining saw modest gains and the Valkyrie Bitcoin Miners ETF rose 2%, HIVE's outperformance highlights a company-specific catalyst. NVIDIA shares moved slightly by 0.8% following the news of the deployment involving their high-end rack-scale systems.

Looking ahead, HIVE is accelerating toward a year-end target of $200 million in annualized recurring revenue for its GPU cloud business, supported by an upfront deposit of 10% of the total contract value. While specific real-time price levels are unavailable in the current database snapshot, investors are focused on the stable cash flows promised by this five-term agreement. Market participants should also watch for the US Inflation Rate (CPI) data on August 12, 2026, as a broader catalyst for technology and digital asset sentiment.