Enterprise AI Market: HIVE BUZZ HPC $350M Deal

HIVE's BUZZ HPC Signs $350M Five-Year AI Cloud Deal, Advancing Enterprise AI Market Growth 

VANCOUVER, Canada — August 17, 2026 — HIVE Digital Technologies Ltd. (TSX: HIVE | NASDAQ: HIVE), through its wholly owned subsidiary BUZZ High Performance Computing Inc. (BUZZ HPC), has signed a five-year GPU cloud services agreement with an investment-grade enterprise customer valued at approximately $350 million in total contract value. The agreement marks a significant milestone in the expansion of Canada's sovereign AI cloud infrastructure and reinforces accelerating demand within the Enterprise AI Market for dedicated, high-performance computing solutions at scale. 

The contract adds approximately $70 million in annualized recurring revenue to BUZZ HPC's portfolio, bringing its total annualized revenue to approximately $180 million. This figure comprises approximately $35 million in active, realized revenue and approximately $145 million in contracted revenue expected to come online through the fourth quarter of 2026. 

Under the terms of the agreement, BUZZ HPC will deploy a dedicated AI infrastructure cluster comprising 2,016 NVIDIA Blackwell Ultra GPUs in NVIDIA GB300 NVL72 rack-scale systems, interconnected with NVIDIA Quantum-X800 InfiniBand networking and supported by VAST Data's high-performance storage platform. The cluster will be housed at the Bell AI Fabric facility in Merritt, British Columbia, and is expected to become operational later in 2026. The facility operates entirely on 100% renewable hydroelectric energy and employs advanced closed-loop liquid cooling technology, eliminating ongoing water consumption for cooling purposes. 

Capital expenditures associated with the deployment — including the accelerated computing cluster and all associated hardware and service warranties — are expected to total approximately $185 million. The enterprise customer will provide an upfront deposit of approximately 10% of the total contract value, or approximately $35 million, which, together with HIVE's previously announced financing initiatives and additional equipment financing, is expected to support the deployment and optimize the company's capital structure. Upon full deployment, HIVE's HPC/AI daily revenue is anticipated to reach approximately $500,000. 

Key Highlights: 

• BUZZ HPC has secured a five-year GPU cloud services agreement with an investment-grade enterprise customer at a total contract value of approximately $350 million, adding approximately $70 million in annualized recurring revenue. 

• The deployment will feature 2,016 NVIDIA Blackwell Ultra GPUs in NVIDIA GB300 NVL72 rack-scale systems, designed to support large-scale AI training, inference, and advanced enterprise workloads. 

• The Merritt, British Columbia facility operates on 100% renewable hydroelectric energy with closed-loop liquid cooling, reinforcing BUZZ HPC's commitment to sustainable AI infrastructure. 

• The agreement advances HIVE's stated target of reaching $200 million in annualized recurring revenue for its GPU cloud business by year-end 2026, positioning BUZZ HPC as a leading Canadian sovereign AI cloud provider. 

Analyst Insight: 

According to analysts at Next Move Strategy Consulting, the BUZZ HPC agreement reflects a broader structural shift in enterprise AI procurement, where organizations are increasingly committing to long-term, dedicated GPU infrastructure contracts to secure compute capacity for large-scale AI training and inference workloads. NMSC analysts note that the five-year contract duration and investment-grade customer profile signal growing enterprise confidence in sovereign AI cloud infrastructure as a strategic asset class — a trend that is expected to accelerate capital deployment into purpose-built AI compute facilities across North America through 2035. The deal also underscores the competitive advantage of combining renewable energy access with NVIDIA-certified accelerated computing architecture, as enterprise customers increasingly factor sustainability credentials into AI infrastructure procurement decisions. 

Industry Outlook: 

The HIVE-BUZZ HPC agreement is indicative of the sustained momentum driving enterprise AI infrastructure investment globally. According to Next Move Strategy Consulting, the global Enterprise AI Market was valued at USD 38.53 billion in 2025 and is estimated at USD 46.51 billion in 2026, with projections pointing to USD 252.86 billion by 2035 at a compound annual growth rate of 20.7% from 2026 to 2035. North America leads the market with approximately 42% of global revenue share, while Canada's enterprise AI market — valued at approximately USD 1.46 billion in 2025 — is projected to reach USD 9.10 billion by 2035 at a 20.0% CAGR, reflecting the country's expanding sovereign AI infrastructure ambitions. As enterprise demand for scalable, governed, and sustainable AI compute continues to intensify, long-term GPU cloud agreements of this nature are expected to become an increasingly standard feature of enterprise AI procurement strategy across the forecast period. 

Source: Newsfile Corp. — HIVE Digital Technologies Ltd. 

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Prepared By: Sanyukta Deb