HIVE Digital Technologies lands $225 million Bell GPU deal worth $75 million a year - Crypto Briefing
HIVE Digital Technologies has signed a three-year GPU cloud contract with Bell AI Fabric valued at approximately $225 million, designed to pay down the company's GPU loan while leaving HIVE owning the hardware.
The agreement, which runs through HIVE's BUZZ High Performance Computing arm, covers the deployment of 2,304 NVIDIA GB200 GPUs at a facility in Merritt, British Columbia. The site runs on renewable hydroelectric power, aligning with HIVE's sustainability efforts.
Deliveries are expected toward the end of 2026 or early 2027, with the $75 million annual revenue figure contingent on the cluster becoming operational. This timing represents a critical checkpoint for investors to monitor.
Strategic financing
To finance the $165 million GPU cluster, HIVE secured a $129 million fixed-rate loan carrying 9% interest over three terms. The loan term matches the contract duration deliberately, as three years of customer payments will align with three years of debt service.
2026 growth trajectory
The Bell agreement builds on HIVE's significant 2026 expansion. In August, the company signed a five-year GPU cloud contract worth approximately $350 million, expected to add roughly $70 million to annual recurring revenue.
Across 2026, HIVE has signed GPU agreements totaling approximately $600 million in contract value. As of September 30, BUZZ HPC's contracted annual recurring revenue reached approximately $185 million, with HIVE targeting about $200 million by year-end.
Ownership structure
The deal's structure may be more valuable than its headline figure. By pairing a three-year loan with a three-year contract, HIVE aims to make the GPU purchase largely self-funding.
If successful, HIVE will complete the contract with a cluster of NVIDIA GB200 GPUs on its books and the related debt fully repaid. Any delay in hardware delivery would push back revenue while the loan continues accruing interest.
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