HIVE Digital Technologies announced a five‑year, $350 million AI cloud contract with an unnamed enterprise customer, contingent on a $185 million GPU buildout scheduled for completion in the fourth quarter of 2026. HIVE Digital Technologies, a Bitcoin mining firm based in Canada, has expanded into artificial‑intelligence services. The company plans to install 2,016 NVIDIA Blackwell Ultra GPUs in GB300 NVL72 systems at its Bell AI Fabric facility in Merritt, British Columbia. The contract requires about $185 million for hardware, equipment and warranties, with deployment targeted for calendar Q4 2026. An upfront deposit of roughly $35 million, equal to 10 % of the contract value, has been agreed to by the customer, though HIVE has not confirmed receipt of the payment. The firm has raised $130 million through zero‑percent exchangeable senior notes in June and $245 million in a similar offering during the quarter, which it says will support the GPU purchase. The agreement could generate about $70 million in annualized revenue once the infrastructure is operational. HIVE’s reported annual recurring revenue stands at $180 million, of which roughly $35 million is currently active; an additional $145 million is contracted and expected to come online through Q4 2026. Management projects daily revenue of $500,000 once the system is running. HIVE has disclosed cash on hand of $208 million but has not said how much is earmarked for the GPU deployment. The success of the project depends on obtaining the remaining financing, receiving the GPUs on schedule and converting contracted capacity into live revenue by the end of 2026. The company has not disclosed the status of additional equipment financing or the timeline for GPU delivery, leaving the realization of the projected revenue contingent on future actions.