Bitcoin miner HIVE signs $350M five-year GPU cloud contract, adding $70M in annual recurring revenue.
AI & Agents ·
HIVE's BUZZ HPC subsidiary secured a five-year GPU cloud contract valued at $350 million, with the deal expected to generate $70 million in annualized recurring revenue. The agreement marks the second major NVIDIA cluster deal the unit has closed within a two-month window, signaling accelerating demand for its infrastructure offerings.
The contract reflects a broader shift in HIVE's business model beyond its traditional bitcoin mining operations into GPU-based cloud services. The five-year commitment provides visibility into recurring revenue streams, a metric institutional investors often favor for valuation and cash flow predictability.
The specific terms of the customer agreement, deployment timeline, and technical specifications of the NVIDIA infrastructure allocation remain undisclosed. It is unclear whether additional similar contracts are in negotiation or what proportion this $350 million deal represents relative to BUZZ HPC's total addressable market in AI cloud services.