Recent Updates — HIVE
HIVE Digital Technologies Ltd.'s subsidiary BUZZ High Performance Computing Inc. entered into a five-year GPU cloud services agreement with an investment-grade enterprise customer. The contract has an estimated total value of approximately $350 million, adding roughly $70 million in annualized revenue. HIVE will deploy a dedicated cluster comprising 2,016 NVIDIA Blackwell Ultra GPUs at its Merritt, British Columbia facility by the fourth quarter of 2026. Capital expenditures for the deployment are estimated at $185 million, partially funded by an upfront deposit of approximately $35 million from the customer and existing financing initiatives. HIVE Digital Technologies Ltd. operates in the digital infrastructure industry, building and operating renewable energy-powered data centers to support high-performance AI computing.
HIVE Digital Technologies Ltd. reported first-quarter fiscal 2027 results for the period ended June 30, 2026, showing total revenue of $79.1 million, a 73.5% year-over-year increase driven by digital currency mining and high-performance computing segments. The company recorded a GAAP net loss of $142.9 million, primarily due to an $84.7 million non-cash provision for contested Swedish VAT liabilities, alongside depreciation and share-based compensation expenses. Adjusted EBITDA turned positive at $13.4 million, while liquidity stood at $208.0 million in cash and equivalents. Contracted GPU Cloud ARR reached approximately $110 million following a three-year, $225 million sovereign AI agreement with Bell AI Fabric supporting Cohere. Additionally, the company issued 9,855,902 common shares via its at-the-market offering for gross proceeds of $31.1 million during the quarter. HIVE Digital Technologies Ltd. operates in the digital asset mining and sustainable data center infrastructure industry.
On June 30, 2026, HIVE Bermuda 2026 Ltd., a subsidiary of HIVE Digital Technologies Ltd., issued $130 million in aggregate principal amount of 0% exchangeable senior notes due July 1, 2031. The notes are guaranteed by the parent company and have an initial exchange price of approximately $4.83 per common share (206.9429 shares per $1,000 principal). To mitigate dilution, the company entered into capped call transactions between June 25 and June 26, 2026, with a cap price of $8.5275, costing a total of approximately $15.7 million funded via cash on hand. HIVE Digital Technologies Ltd. operates in the technology industry, focusing on high-performance computing and cryptocurrency mining.
On June 25, 2026, HIVE Digital Technologies announced that its subsidiary, HIVE Bermuda 2026 Ltd., intends to conduct a private offering of US$100 million in 0% exchangeable senior notes due 2031 to qualified institutional buyers. The offering includes an option for initial purchasers to buy up to an additional US$15 million in notes. The company also plans to enter into privately negotiated cash-settled capped call transactions with financial institutions. HIVE Digital Technologies operates in the high-performance computing industry, focusing on cryptocurrency mining and GPU data centers.
HIVE Digital Technologies Ltd. signed a non-binding co-location letter of intent with a Swedish technology company for its 32 megawatt facility in Boden, Sweden. The agreement contemplates a lease term of 8 to 10 years for a usable critical IT load of approximately 25 MW. Finalization of the deal is subject to the negotiation and execution of a definitive agreement. HIVE Digital Technologies Ltd. is a technology company providing data center and blockchain infrastructure services.
HIVE Digital Technologies Ltd. amended and restated its Equity Distribution Agreement to allow for the sale of up to $300,000,000 of common stock through various U.S. and Canadian agents. Additionally, the company's subsidiary, BUZZ High Performance Computing Inc., entered into an agreement with Bell Canada and Cohere Inc. to deploy a sovereign AI cloud and GPU cluster infrastructure in British Columbia. The company also announced the acquisition of its leased facility in Boden, Sweden, following approval from the Boden Municipal Council. HIVE Digital Technologies Ltd. operates in the digital infrastructure and high-performance computing sector, providing data center and blockchain/crypto-mining/AI infrastructure services.