HIVE Digital Technologies Ltd.'s indirect subsidiary, BUZZ Alpha Cloud Inc., entered into a Loan and Security Agreement for approximately $129 million with an institutional lender. The facility bears interest at a fixed rate of 9.0% per annum over a three-year term, with principal and interest amortizing over the life of the loan. Proceeds will fund the purchase of an advanced sovereign AI GPU cluster, including NVIDIA GB200 NVL72 systems, to be deployed for a previously announced three-year customer contract with Cohere. The debt is secured by the GPUs and related assets, supported by a limited recourse guarantee from parent BUZZ High Performance Computing Inc., which also pledged its equity in the borrower but holds no other liability. HIVE Digital Technologies Ltd. operates sustainable digital infrastructure, building and operating renewable energy-powered data centers.
