RETRANSMISSION: HIVE's BUZZ HPC Secures Approximately $129 Million at 9.0% Fixed-Rate Financing at 80% Loan-to-Cost to Expand Sovereign AI Infrastructure
Key Highlights
- ➤HIVE secures approximately $129 million at a fixed 9.0% rate over three years
- ➤$129 million financing funds NVIDIA GB200 GPU cluster costing $165 million
- ➤Cohere contract provides three-year fixed $225 million total contract value
- ➤HIVE expects delivery of 2,303 NVIDIA GB200 GPUs toward the end of Q4 2026
- ➤HIVE signed $600 million of GPU cloud deals across three GPU off-take contracts
Expert Statements
Frank Holmes, Executive Chairman, HIVE Digital Technologies
“We believe sovereignty in the AI era will depend on where compute lives and who controls it. Canada has the research talent, the clean energy and the institutions to help lead that future, and our vision is to build AI infrastructure that will serve humanity. This financing allows BUZZ HPC to put more of that infrastructure to work in Canada while keeping our capital structure disciplined, which we believe is how lasting value is built.”
Aydin Kilic, President & CEO, HIVE Digital Technologies
“We have signed $600 million of TCV for GPU cloud deals this year, across 3 GPU off-take contracts. Notably, the $129 million financing is applied towards the purchase of a $165 million cluster of NVIDIA GB200 GPUs, which the Company announced are being contracted on a 3-year fixed $225 million TCV with Cohere, which includes GPU compute and additional revenue attributed to connectivity and storage0F(1). This represents an approximate 80% loan-to-cost, at a fixed interest rate of 9.0%. The equity contribution from the Company towards the balance of the GPU cluster and associated hardware and software cost is being funded from the proceeds of the 0% interest convertible bonds issued earlier this year.”
This news release constitutes a "designated news release" for the purposes of the Company's amended and restated prospectus supplement dated June 16, 2026 to its short form base shelf prospectus dated October 31, 2025.
San Antonio, Texas--(Newsfile Corp. - October 28, 2026) - HIVE Digital Technologies Ltd. (TSX: HIVE) (NASDAQ: HIVE) (BVC: HIVECO) (the "Company" or "HIVE"), through its wholly owned subsidiary BUZZ High Performance Computing Inc. ("BUZZ HPC"), today announced that BUZZ Alpha Cloud Inc. ("BUZZ Alpha Cloud"), an indirect subsidiary of the Company, has entered into a Loan and Security Agreement with an institutional lender for a single-digit, fixed-rate credit facility of approximately $129 million (the "Facility") (Unless otherwise indicated, all dollar amounts in this release are expressed in US dollars.).
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