Digital infrastructure builder and operator HIVE Digital Technologies, together with its wholly owned subsidiary BUZZ High Performance Computing (BUZZ HPC), has announced a five-year GPU cloud services agreement with an investment-grade enterprise customer. The total contract carries a value of US$ 350 million and adds US$ 70 million to BUZZ HPC’s annualized revenue.
As announced in a press release, under the agreement with the customer, BUZZ HPC will deliver dedicated AI infrastructure including 2,016 NVIDIA Blackwell Ultra GPUs in NVIDIA GB300 NVL72 rack-scale systems interconnected with NVIDIA Quantum-X800 Infiniband networking, supported by VAST Data’s high-performance storage platform. The platform will be deployed at the Bell AI Fabric facility in Merritt, British Columbia.
“This new five-year agreement is another important milestone in that journey. With approximately 400 MW of capacity in Canada for Tier III data center development, we have the potential to bring over 120,000 GPUs online over the next 2 years,” said Frank Holmes, HIVE Digital Technologies Executive Chairman.
“This contract demonstrates our ability to consistently execute on large-scale AI infrastructure deployments while securing long-term, high-quality customers. We’re rapidly establishing BUZZ as one of Canada’s leading sovereign AI cloud providers, combining best-in-class NVIDIA infrastructure with strategic partners such as Bell and VAST Data to deliver enterprise-grade AI compute at global scale,” said Craig Tavares, BUZZ HPC President and Chief Operating Officer.
BUZZ HPC said that the latest agreement will provide long-term contracted revenue visibility, enabling it to accelerate the buildout of a portfolio of high-performance accelerated computing infrastructure that meets Canada’s sovereign AI requirements, and serves global enterprises, and AI organizations.
The company expects capital expenditure for the deployment to total approximately US$ 185 million. The customer will pay an upfront deposit of 10 percent of US$ 35 million. HIVE will leverage financing it has already secured, and additional equipment financing to support the deployment.
Importantly, HIVE will retain ownership of the infrastructure, creating a long-lived strategic asset that can buff up its cashflow beyond the five-year contract with the unnamed customer.
“We’re building far more than GPU clusters; we’re helping build a sustainable AI future. This milestone reflects the speed and discipline with which our team continues to execute, while strengthening a world-class ecosystem of partners. Together, we’re creating a sovereign AI cloud platform that gives Canadian and global organizations access to sustainable, high-performance infrastructure built for the AI era,” said Tavares.
Canada’s AI market is set to experience substantial growth from a value of US$ 20.24 billion in 2026 to as much as US$ 103.19 billion by 2031. As outlined by MarketsandMarkets, leading this growth is significant investment in infrastructure, talent development, and regulatory frameworks that help increase adoption of the technology as the country looks to establish itself as a leader in the global AI market.