HIVE Digital signs a $350 million contract with Nvidia: a bet on AI infrastructure
Mining operator HIVE Digital has made a strategic move toward high-performance computing by signing a five-year agreement worth $350 million. The deal was concluded with an anonymous "investment-grade corporate client," underscoring the seriousness of the company's intentions in the field of artificial intelligence.
Under the contract, the BUZZ HPC division will deploy 2,016 Nvidia Blackwell Ultra graphics processors at a facility in the Canadian province of British Columbia. This is not just an equipment purchase — it is about creating a full-fledged AI infrastructure that will generate steady revenue. The deal is expected to add approximately $70 million in annual revenue, significantly strengthening HIVE's financial base.
Notably, this is already the company's second major AI contract in the past two months. This momentum indicates a systemic shift among miners from traditional cryptocurrency mining to diversified models of monetizing computing power. HIVE is clearly seeking to carve out a niche at the intersection of blockchain and high-tech computing, where demand for GPU resources is growing exponentially.
At the same time, the company is not abandoning its core business. HIVE continues to operate a Bitcoin hash rate of 24.5 EH/s, placing it seventh among public miners by this metric. This allows it to maintain resilience amid cryptocurrency market volatility while simultaneously developing new revenue streams.
Such deals are becoming a trend in the industry: miners are increasingly viewing their data centers as versatile platforms for data processing rather than just for digital asset mining. The integration of AI workloads could become a key factor in the long-term growth of such companies' value.
My take: HIVE Digital is demonstrating a sound risk-hedging strategy, but the key question remains its ability to effectively manage two disparate business lines. If the company maintains its pace of AI solution adoption, it could become a benchmark for other miners seeking diversification paths.