HIVE Digital Technologies has secured AI cloud contracts totaling approximately $600 million in 2026. These agreements are managed through its subsidiary, BUZZ High Performance Computing, which provides GPU processing power to enterprise clients.
The portfolio includes a three-year deal worth $225 million with Bell AI Fabric, supporting the AI firm Cohere Inc. Additionally, a five-year contract valued at $350 million was signed with an undisclosed investment-grade enterprise client.
As of September 30, 2026, the company reported an annual recurring revenue of approximately $185 million from its GPU cloud services, with a target to reach $200 million by the end of the year.
To support infrastructure expansion using NVIDIA hardware, HIVE secured a loan of $129 million. The company currently operates data centers in Canada, Sweden, and Paraguay, utilizing hydroelectric power for its operations.
In the second quarter of fiscal 2027, HIVE reported total revenue of $84.9 million and a net loss of $78.7 million, which included a $31.2 million impairment charge on mining equipment.
The firm continues its Bitcoin mining operations, producing over 11 BTC daily. As of the second quarter of fiscal 2027, HIVE held $139 million in cash and $22.6 million in digital assets.
