HIVE signs $350M AI cloud contract over five years

Bitcoin miner HIVE has signed a five-year, $350 million GPU cloud services contract with an investment-grade corporate client through its subsidiary BUZZ HPC, The Block reported. The deal is expected to add about $70 million in annual revenue, lifting BUZZ HPC’s annual recurring revenue to about $180 million. HIVE plans to build a dedicated cluster of 2,016 Nvidia Blackwell Ultra GPUs and bring it online in the fourth quarter of this year. The company has recently been expanding the power and data center infrastructure it had used for Bitcoin mining into its AI computing business. In June, it also signed a three-year, $220 million AI cloud contract.