The five-year agreement with Nvidia is set to boost HIVE’s annual recurring revenue to $180 million.
HIVE Digital’s stock rose 14% after securing a $350 million AI cloud computing contract with Nvidia over five years. The deal marks the company’s largest AI cloud agreement to date and aligns with its goal of reaching $200 million in annual recurring revenue (ARR).
The agreement will add $70 million in annual revenue, bringing HIVE’s ARR to approximately $180 million. The company plans to deploy 2,016 Nvidia Blackwell Ultra GPUs at its British Columbia data center, requiring $185 million in capital spending.
HIVE expects the facility to generate $500,000 daily once operational in Q4. The company, which transitioned from Bitcoin mining to AI and high-performance computing, still holds $11 million in Bitcoin on its balance sheet.