Key HighlightsBUZZ HPC, a HIVE Digital subsidiary, has finalized a $350 million, five-year GPU cloud services agreement with an investment-grade enterprise client.This agreement contributes approximately $70 million in annual revenue, elevating BUZZ HPC’s total annualized revenue to approximately $180 million.The deployment will feature 2,016 NVIDIA Blackwell Ultra GPUs at the Bell AI Fabric facility located in Merritt, British Columbia.Shares of HIVE jumped roughly 8% during premarket hours on Monday after the news broke.The deployment will require capital expenditures of approximately $185 million, with the customer providing a 10% upfront deposit.Shares of HIVE Digital Technologies (NASDAQ: HIVE) climbed approximately 8% in Monday’s premarket session, reaching $2.91, following the announcement of a significant contract win by its subsidiary, BUZZ High Performance Computing Inc.HIVE Digital Technologies Ltd., HIVEThe agreement involves BUZZ HPC providing GPU cloud services over a five-year period to an investment-grade enterprise customer, with the total contract valued at approximately $350 million. This partnership is projected to generate roughly $70 million in annual revenue for BUZZ HPC.With this addition, BUZZ HPC’s annualized revenue total now stands at approximately $180 million. Currently, about $35 million represents active revenue, while the remaining $145 million in contracted revenue is scheduled to become operational through the fourth quarter of 2026.$350,000,000.5-year term.$70M in new ARR.2,016 NVIDIA Blackwell Ultra GPUs.100% hydro-powered.Merritt, BC goes live Q4.Full release pic.twitter.com/56580220A0— HIVE Digital Technologies (@HIVEDigitalTech) August 17, 2026The contract stipulates that BUZZ HPC will install 2,016 NVIDIA Blackwell Ultra GPUs configured in GB300 NVL72 rack-scale systems. The infrastructure will incorporate NVIDIA Quantum-X800 InfiniBand networking technology alongside VAST Data’s storage solution.The GPU cluster is scheduled to become operational later this year at the Bell AI Fabric data center in Merritt, British Columbia. This location operates exclusively on hydroelectric energy and employs closed-loop liquid cooling technology, which eliminates continuous water usage.Following the completion of deployment, HIVE will maintain ownership of the NVIDIA AI hardware. The delivery and full deployment timeline extends through the fourth quarter of 2026.Financing StrategyThe deployment is expected to require capital expenditures totaling approximately $185 million. The company will receive an initial deposit equivalent to roughly 10% of the complete contract value.According to CEO Aydin Kilic, the company plans to finance the GPU acquisition using funds from its June 2026 convertible bond issuance and additional debt financing. HIVE also noted it maintains roughly 400 MW of available capacity across its Canadian facilities for future data center expansion.Management indicated that the customer deposit, when combined with previously disclosed financing arrangements and equipment financing options, should adequately support the complete deployment.Analyst PerspectivesWall Street analysts have assigned HIVE a Buy rating consensus, with an average price target of $6.80. Individual price targets span from a low of $4.60 to a high of $10.00 among 10 covering analysts.Notable recent analyst activity includes Chardan Capital launching coverage with a Buy rating and $7.50 price target in July, while Canaccord Genuity reaffirmed its Buy rating with a $10.00 target in June.From a technical analysis perspective, HIVE is currently trading 13.6% beneath its 50-day moving average of $3.36 and 5.8% below its 100-day moving average of $3.08. Significant resistance is identified near the $3.00 level, which aligns with the 200-day moving average area.During Monday’s premarket trading, HIVE stock price advanced 8.16% to $2.91.The post HIVE Digital (HIVE) Stock Surges 8% After Securing Massive $350M GPU Cloud Contract appeared first on Blockonomi.