HIVE Digital announces $220M GPU cloud deal, extending pivot from crypto mining to managed AI compute.
HIVE Digital Technologies Ltd shares surged on June 26, 2026, rising 6.99%, as positive crypto-mining outlook and new AI infrastructure deals boosted investor optimism.
HIVE Digital Technologies has shifted from a pure Bitcoin miner into a hybrid crypto and AI infrastructure play, and the numbers show that turn. The company reported Q4 revenue of $71.8M, more than double the $31.16M from a year earlier. Full-year revenue hit $297.8M, up 158%, on the back of a hashrate jump from 6.5 EH/s to 25.1 EH/s and the build-out of its BUZZ GPU cloud platform.
Even with that growth, HIVE remains unprofitable. The latest annual report shows net income of -$145.3M and an EBIT margin around -48%. Return on equity and assets are deep in the red. For traders, that screams "early growth story," not "steady cash cow."
On the balance sheet, HIVE carries modest leverage. Total debt-to-equity sits near 0.11, with a current ratio around 1.1. Book value per share is about $2.12 versus a share price just over $4, so the stock trades near 1.9x book and roughly 1.3x sales.
Technically, HIVE has been volatile but constructive. The daily chart shows swings between roughly $3.50 and $5.34 this month, with the latest close at $4.055 after a strong intraday push from the $3.60s. Intraday 5-minute candles show a clear morning base in the mid-$3.60s and an afternoon grind into the low $4s—classic accumulation behavior. Active traders watching HIVE will care less about backward-looking losses and more about whether that growing AI/HPC revenue can keep fueling this momentum.
HIVE Digital is no longer just a leveraged bet on Bitcoin. The real story now is BUZZ High Performance Computing and how fast that AI cloud business is scaling.
The headline deal: BUZZ HPC signed a three-year GPU cloud contract worth about $220M, tied to a sovereign AI infrastructure collaboration with Bell Canada and Cohere. For a company with under $300M in trailing revenue, that is a game-changing backlog. It gives HIVE multi-year visibility and plugs the company directly into Bell AI Fabric's national data center and connectivity backbone.
In that partnership, BUZZ HPC is not a side vendor. HIVE is providing the AI-native cloud layer and large GPU clusters, built on NVIDIA hardware, to run production-grade AI workloads for large enterprises and government. That moves HIVE Digital up the stack, away from pure commodity hash power and into core infrastructure for Canada's sovereign AI ambitions.
The Sweden story adds another leg to the thesis. HIVE Digital secured approval to acquire the 32MW Big Boden data center, shifting from tenant to owner. Owning that asset matters for margins and flexibility. Shortly after, HIVE signed a non-binding letter of intent with an investment-grade Swedish sovereign technology company for a potential 10-year lease of the same 32MW site, now being retrofitted to host up to 10,000 GB300 GPUs for high-performance computing colocation.
For traders, that LOI signals real demand for HIVE's upgraded capacity and hints at long-duration, sovereign-linked revenue streams once finalized. The scale—10,000 GPUs—underlines how seriously HIVE Digital is leaning into AI.
Analyst sentiment is shifting. B. Riley raised its HIVE price target from $5 to $8, calling the stock undervalued versus HPC peers. Cantor Fitzgerald bumped its target to $7 with an Overweight rating, and Rosenblatt moved to $5.50 while highlighting the HPC ramp as a buffer against lower Bitcoin prices. When three separate firms raise targets in a short window, momentum traders take notice.
For active traders, HIVE Digital sits at the crossroads of two volatile worlds: crypto and AI. On one side, you have the traditional HIVE mining business, with hashrate up sharply and revenue nearly tripling year over year. On the other, BUZZ HPC is stacking AI-driven contracts, from the $220M Bell/Cohere sovereign AI deal in Canada to the potential 10-year Swedish colocation agreement tied to Big Boden.
The financials still show heavy red ink. Margins are negative, and HIVE Digital is not yet printing consistent cash. But Street expectations are shifting. Consensus now looks for March 2026 quarter revenue of about $76.79M, up roughly 146% year over year, with EPS losses narrowing by more than 30%. Recent upward estimate revisions suggest the worst of the losses may be behind the company as the AI segment scales.
On the tape, the stock trades like a momentum name—wide daily ranges, clean intraday trends, and strong moves around news. That is exactly the kind of action short-term traders hunt.
The key is discipline. As Tim Sykes says, "Patterns repeat, but you have to cut losses quickly when they fail," and "The goal is not to win every trade but to protect your capital and keep moving forward." Applied to HIVE, that means respecting the volatility, trading the trend around AI and data-center catalysts, and never confusing a high-potential story with guaranteed upside. For traders who study the charts and understand the catalysts, HIVE Digital is firmly on the watchlist.