Bitcoin mining company HIVE signs a $350 million AI cloud service contract, expected annual revenue increase of $70 million

According to The Block, Bitcoin mining company HIVE Digital Technologies has signed a five-year GPU cloud service agreement worth approximately $350 million through its subsidiary BUZZ High-Performance Computing, with a client that has not been disclosed as an investment-grade enterprise.

The contract is expected to add approximately $70 million in annual revenue for HIVE, bringing BUZZ HPC's total annual revenue to about $180 million.