Recent Updates — HIVE
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.
HIVE Digital Technologies Ltd. announced that its wholly owned subsidiary, BUZZ High Performance Computing Inc., appointed Mark Volk as Senior Vice President, Revenue to lead global go-to-market strategy for GPU-powered AI infrastructure. The company reported that estimated average daily revenue from combined hashrate and GPU services exceeded approximately USD $1 million per day since August 21, 2026. This figure includes production of approximately 12 Bitcoin per day and roughly $100,000 in average daily GPU cloud revenue. HIVE intends to wind down Bitcoin mining at its Swedish facilities to repurpose infrastructure for higher-value HPC and AI applications. The company operates in the digital infrastructure industry, building and operating renewable energy-powered data centers for AI computing and cryptocurrency mining.
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.