HIVE Digital Technologies lands $225 million Bell GPU deal worth $75 million a year - Cryptonews.net
HIVE Digital Technologies has signed a three-year GPU cloud contract with Bell Canada subsidiary Bell AI Fabric, valued at approximately $225 million.
The Merritt facility will run on renewable hydroelectric power, and deliveries are expected toward the end of 2026 or early 2027.
The GPU cluster carries a price tag of around $165 million, and HIVE secured a $129 million fixed-rate loan with 9% interest over three years to pay for it.
The loan term matches the contract term, aligning three years of customer payments with three years of debt service.
Self-funding GPU cluster
HIVE is financing most of the equipment with debt and letting the customer’s payments carry the weight of the purchase.
If everything goes to plan, HIVE finishes the contract with a cluster of NVIDIA GB200 GPUs on its books and the related debt repaid.
2026 GPU push
The Bell agreement is not HIVE’s first big GPU contract this year. In August 2026, 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 total contract value.
BUZZ HPC’s contracted annual recurring revenue reached approximately $185 million as of September 30, 2026.
Investor checkpoint
HIVE is targeting about $200 million in GPU cloud annual recurring revenue by the end of 2026.
The broader scorecard to watch is the $200 million ARR target for year-end. With contracted ARR at approximately $185 million as of September 30, HIVE’s ability to bring new clusters online will determine how much of that contracted figure becomes actual recurring revenue.
A delay in hardware delivery would push back revenue while the clock on the loan keeps ticking, making the window of late 2026 to early 2027 the near-term checkpoint for investors.
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