HIVE BUZZ Signs $30M AI Cloud Deals, Expanding Tier-III Data Centers

Editor’s note: As the AI compute era intensifies, the industry is reassessing how and where powerful workloads are hosted. Hive Digital’s BUZZ platform illustrates a practical path: repurposing mining-era campuses into scalable, energy-conscious AI data hubs. By converting existing sites and deploying high-density GPUs, Hive aims to deliver reliable AI capacity more quickly and with renewable energy at the core. This press release highlights a milestone in that transition, underscoring the resilience of regional digital infrastructure and the role of private-sector investment in accelerating AI readiness across North America, Europe, and Latin America.

Key points

• BUZZ signs about $30 million in AI cloud contracts, accelerating expansion of Tier-III data centers globally.
• Converting mining facilities into AI-ready infrastructure across Canada, Sweden, Paraguay, and beyond.
• First deployments include a 2,000-GPU Sweden liquid-cooled facility and a 7.2 MW Toronto site, with Bell and Dell partnerships.
• Conversions are up to 75% faster than traditional builds and powered by 100% renewable energy.

Why this matters

The milestone illustrates a shift toward scalable, energy-efficient high-performance computing capacity as demand for AI compute rises. Hive’s dual‑engine model leverages existing land and facilities to accelerate AI deployments while maintaining renewable energy use. By converting Tier‑I mining sites into Tier‑III AI data centers, Hive aims to strengthen sovereign AI capabilities and regional digital infrastructure across Canada, Sweden, Paraguay, and Latin America. Investors will watch how execution aligns with contracted demand and expansion plans.

What to watch next

• Canada West deployment of the initial 504-GPU phase online by the quarter ending March 31, 2026.
• Projected ARR growth for BUZZ’s AI cloud platform as deployments scale.
• Expansion into Latin America and continued sovereign AI partnerships.

Disclosure: The content below is a press release provided by the company/PR representative. It is published for informational purposes.

HIVE’s BUZZ Signs $30 Million in AI Cloud Contracts, Accelerating Global HPC Tier-III Data Center Expansion

San Antonio, Texas, February 13, 2026 — BUZZ High Performance Computing (“BUZZ”), the Canadian Tier-III high-performance computing (“HPC”) data center platform of HIVE Digital Technologies Ltd. (“HIVE” or the “Company”) (TSX.V: HIVE) (Nasdaq: HIVE) (FSE: YO0) (BVC: HIVECO), today announced a major step forward in its AI cloud strategy, signing customer agreements representing approximately $30 million in total contract value over two-year fixed terms, subject to performance obligations and deployment milestones (all amounts in US dollars, unless otherwise indicated).

Building on four years of experience operating GPU infrastructure, BUZZ is accelerating its expansion as HIVE’s AI engine, complementing the Company’s established Tier‑I hashrate services provider and reinforcing its position as a twin-engine leader in next-generation digital infrastructure.

The new contracts underpin the initial phase of BUZZ’s AI-optimized GPU deployment at its Canada West location in Manitoba, with compute capacity expected to come online during the quarter ending March 31, 2026. The first phase consists of 504 liquid-cooled Dell server-based GPUs, purpose-built for high-performance AI and HPC workloads.

Based on executed contracts, current pricing, and deployment schedules, management expects this initial phase to generate approximately $15 million in annual recurring revenue (“ARR”) to BUZZ’s cloud business once fully operational. Upon full deployment, management expects total annualized revenue attributable to HIVE’s HPC segment, driven by BUZZ, to grow from approximately $20 million currently to roughly $35 million, reflecting strong contracted demand for BUZZ’s AI cloud platform. These projections are subject to capital expenditures, operating costs, customer utilization levels, and other risk factors described herein, and actual results may vary.

To support this growth, the Company expects to incur capital expenditures related to GPU acquisition, supporting electrical and cooling infrastructure, and working capital requirements. Operating expenses are expected to include power, hosting, maintenance, staffing, and network costs. BUZZ continues to expand capacity at its Canada West site in alignment with executed customer agreements.

Management Commentary

Frank Holmes, Executive Chairman of HIVE, commented: “We are entering 2026 with strong momentum in our HPC and GPU cloud business. HIVE has built a track record as one of the longest-standing publicly traded crypto Tier‑I data center operators, performing through multiple market cycles while protecting cash flow and balance sheet strength. Now, with BUZZ, we are leveraging that foundation to build a high-growth AI cloud platform spanning Canada, Sweden, and Paraguay.”

Tier-I data centers for hashrate services typically require approximately $1 million per megawatt of infrastructure https://www.jbs.cam.ac.uk/wp-content/uploads/2025/04/2025-04-cambridge-digital-mining-industry-report.pdf, whereas Tier-III facilities supporting advanced GPU clusters can require materially higher capital intensity due to premium GPU hardware, redundant power architecture, and advanced cooling systems. Industry benchmarks suggest that constructing and equipping a comparable fully self-funded Tier-III facility with similar GPU capacity could require approximately $70 million in capital expenditures, depending on site conditions, financing structure, vendor pricing, and market dynamics.

Through vendor financing arrangements for GPUs and strategic Tier-III data center partnerships, we are scaling efficiently while reducing upfront capital intensity compared to a fully self-funded build. Where HIVE owns land and buildings and operates its Tier-I facilities, we are pursuing selective Tier-III conversions and colocation strategies for HPC. This showcases our vertically integrated model and diversified revenue streams from both HPC co-location and GPU AI cloud services, reinforcing HIVE’s dual-engine strategy of hashrate services and high-performance computing.”

Aydin Kilic, President and Chief Executive Officer of HIVE, added: “Our vision is to scale our HPC GPU AI cloud business toward approximately $140 million in ARR over the next year, subject to market conditions and successful infrastructure deployment. As we execute, this growth will be supported by continued investment in infrastructure and operations. In our previous earnings webcast, we outlined a target deployment of 2,000 AI-optimized GPUs at our Canada West facility this year. The initial 504-GPU deployment is already backed by executed customer agreements representing approximately $30 million in total contract value over two years, subject to performance obligations and deployment milestones.”

This is just the beginning. Demand for long-term access to high-performance, power-efficient AI compute continues to expand globally, and we are excited to further scale our GPU cloud business throughout 2026.”

Craig Tavares, President and Chief Operating Officer of BUZZ HPC, commented: “Canada requires more sovereign AI compute capacity, both to serve domestic workloads and to support global AI companies from a secure Canadian base. With Dell and Bell Canada as key partners, we are scaling GPU capacity with the infrastructure, connectivity, and resiliency needed to compete on a global stage.”

BUZZ was recently recognized by SemiAnalysis for having one of the fastest data center networks globally and earned a Bronze rating in their ClusterMAX report, validating our technical architecture and execution capabilities.

Launching this cluster in Canada West marks a significant milestone. It expands BUZZ’s national footprint and advances our vision of coast-to-coast AI infrastructure, with commercial‑grade clusters operating at scale to serve both sovereign workloads and international demand. Under HIVE’s dual-engine model, BUZZ is positioned to be a powerful growth catalyst as we accelerate into the global AI supercycle.”

About HIVE Digital Technologies Ltd.

Founded in 2017, HIVE Digital Technologies Ltd. is the first publicly listed company to mine digital assets powered by green energy. Today, HIVE builds and operates next-generation Tier‑I and Tier‑III data centers across Canada, Sweden, and Paraguay, serving both Bitcoin and high-performance computing clients. HIVE’s twin-turbo engine infrastructure-driven by hashrate services and GPU-accelerated AI computing-delivers scalable, environmentally responsible solutions for the digital economy.

For more information, visit http://hivedigitaltech.com, or connect with us on:

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On Behalf of HIVE Digital Technologies Ltd.
“Frank Holmes”
Executive Chairman

For further information, please contact:
Nathan Fast, Director of Marketing and Branding
Frank Holmes, Executive Chairman
Aydin Kilic, President & CEO

Tel: (604) 664-1078

Forward-Looking Information

Forward-looking information in this news release is based on current expectations, assumptions, and/or beliefs that are subject to risks and uncertainties. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. Details of factors that could cause actual results to differ materially from those described in such forward-looking information are included in the Company’s filings with securities regulators.