HIVE Digital has secured a five-year, $350 million cloud computing contract with Nvidia to deploy advanced GPUs at its data centre facility located in Merritt, British Columbia.

Key Points

• HIVE Digital will deploy 2,016 Nvidia Blackwell Ultra GPUs to expand its artificial intelligence and high-performance computing infrastructure.
• The agreement is expected to generate $70 million in annual revenue, pushing the company’s total annual recurring revenue toward $180 million.
• The project requires $185 million in capital expenditure, with the facility expected to become fully operational by the fourth quarter of this year.
• Once active, the new GPU cloud services are projected to generate approximately $500,000 in daily revenue for the company.
• HIVE Digital continues to maintain a Bitcoin mining operation, holding $11 million in cryptocurrency assets alongside its growing data centre business.

Why it Matters

This deal marks a significant strategic pivot for HIVE Digital as it transitions from a Bitcoin-focused miner into a major player in the artificial intelligence cloud computing market. By securing a long-term partnership with Nvidia, the company establishes a more stable and diversified revenue stream that reduces its reliance on volatile cryptocurrency markets.