Hive Signs $350 Million AI Contract, Needs $185 Million for Infrastructure
Prefer us on GoogleHive Digital Technologies has signed a $350 million AI cloud contract, but it needs to secure $185 million in infrastructure costs to convert this into revenue. Hive announced that its subsidiary BUZZ HPC has entered into a five-year GPU cloud service contract with investment-grade corporate clients. The total contract amount is $350 million, and annual revenue is expected to increase by approximately $70 million. BUZZ HPC's total annual revenue is projected to be around $180 million, but current operating revenue is only about $35 million. The remaining revenue will be reflected once the equipment goes online by the fourth quarter of 2026. The infrastructure cost is approximately $185 million, and the plan is to combine customer advance payments, 0% convertible bond funds, and additional equipment financing. Hive is expanding its AI revenue sources, showcasing the transition of Bitcoin mining companies to AI infrastructure. Following the contract signing, Hive's stock price rose by 8%, but uncertainty remains until it is converted into actual revenue.
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