HIVE Digital Technologies has secured a $350 million contract to provide GPU cloud services, the company said on Tuesday.
The agreement, which spans multiple years, will see HIVE supply high-performance computing infrastructure to support artificial intelligence and machine learning workloads. Financial terms were not disclosed beyond the aggregate contract value.
The deal follows HIVE’s expansion into GPU-based cloud computing, positioning the firm to capitalize on rising demand for AI-driven infrastructure. The company operates data centers equipped with specialized hardware optimized for AI workloads, including training and inference tasks.
HIVE Digital did not name the counterparty in the contract, citing confidentiality. Analysts noted that the agreement reflects broader industry trends, with enterprises increasingly outsourcing compute-intensive AI tasks to specialized providers.
The contract is expected to bolster HIVE’s revenue growth as it scales its cloud services division. The company has not provided a timeline for when revenue recognition under the agreement will begin.
