HIVE announced on Feb. 13 that BUZZ High Performance Computing, the Canadian Tier-III high-performance computing (HPC) data center platform of HIVE Digital Technologies (Nasdaq: HIVE), has signed customer agreements representing around $30 million in total contract value over two-year fixed terms.
Building on four years of experience running GPU infrastructure, BUZZ is accelerating its growth as HIVE's AI engine.
It complements the company's established Tier-I hashrate services business and strengthens HIVE's position as a dual-engine leader in next-generation digital infrastructure.
Related: HIVE continues to expand production even as Bitcoin dumps
The new contracts support the initial phase of AI-optimized GPU deployment at BUZZ's Canada West site in Manitoba. The computing capacity is expected to come online in the quarter ending March 31, 2026.
HIVE executive chairman Frank Holmes said,
"We are entering 2026 with strong momentum in our HPC and GPU cloud business... Now, with BUZZ, we are leveraging that foundation to build a high-growth AI cloud platform spanning Canada, Sweden, and Paraguay."
HIVE President and CEO Aydin Kilic said,
"Our vision is to scale our HPC GPU AI cloud business toward approximately $140 million in ARR over the next year, subject to market conditions and successful infrastructure deployment."
BUZZ HPC President and CEO Craig Tavares said, "Launching this cluster in Canada West marks a significant milestone. It expands BUZZ's national footprint and advances our vision of coast-to-coast AI infrastructure, with commercial-grade clusters operating at scale to serve both sovereign workloads and international demand."
He added, "Under HIVE's dual-engine model, BUZZ is positioned to be a powerful growth catalyst as we accelerate into the global AI supercycle."
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Total annualized revenue from HIVE's HPC to surge to $35M
Based on executed contracts, current pricing, and rollout timelines, management expects this first phase to generate around $15 million in annual recurring revenue (ARR) for BUZZ's cloud business once it is fully operational.
With full deployment, management anticipates that total annualized revenue from HIVE's HPC segment, driven by BUZZ, will increase from about $20 million now to around $35 million, reflecting strong contracted demand for BUZZ's AI cloud platform.
HIVE expects to invest capital in GPU purchases, electrical and cooling infrastructure, and working capital.
Operating expenses will include power, hosting, maintenance, staffing, and network costs. BUZZ continues to expand capacity at its Canada West site in line with signed customer agreements.
Related: Hive Digital targets 2% of global Bitcoin mining with renewable energy
This story was originally published by TheStreet on Feb 13, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.
