HIVE Digital’s Stock Jumps 14% On News Of Nvidia Deal
CryptoProwl
Mon, August 17, 2026 at 7:01 PM GMT+5:30
2 min read
- NVDA
+0.67% - HIVE
+8.92% - HIVE
+8.92%
The stock of Canada’s HIVE Digital (NASDAQ: $HIVE) is up 14% on news that the company has signed an artificial intelligence (A.I.) cloud computing contract with chipmaker Nvidia (NASDAQ: $NVDA)
The deal with Nvidia is reportedly worth $350 million U.S. to HIVE Digital over five years. It is the largest A.I. cloud computing contract yet for HIVE.
The graphics processing unit (GPU) cloud services agreement with Nvidia also brings HIVE Digital closer to its goal of achieving $200 million U.S. in annual recurring revenue (ARR)
MEXC July TradFi Trading Shifts Toward AI Storage as SNDK Futures Volume Surges More Than 15x Times
<a href="https://www.cryptoprowl.com/releases/polymarket-hires-former-uber-executive-to-lead-growth-initiative-6404?ref=yahoo&refid=35″ rel=”nofollow noopener” target=”_blank”>Polymarket Hires Former Uber Executive To Lead Growth Initiative
Hyperliquid Turns to CFTC for Path Into U.S. Perpetual Futures Market
Canadian Defense Tech Firm Jumps 92% as Government Revenue Boosts Margins
The deal is expected to add $70 million U.S. in annual revenue to HIVE Digital, putting the A.I. data centre operator’s ARR at about $180 million U.S
Under terms of the five-year deal, HIVE Digital will deploy 2,016 Nvidia Blackwell Ultra GPUs at its data centre facility in Merritt, British Columbia
HIVE said the project will require approximately $185 million U.S. in capital spending on its part, with plans to use a combination of financing
Once the British Columbia facility is fully operational in the fourth quarter of this year, HIVE Digital expects the GPU cloud business to generate $500,000 U.S. per day in revenue
HIVE Digital is a Bitcoin miner turned A.I. and high-performance computing (HPC) data centre operator. However, the company still maintains a foothold in Bitcoin mining.
Management at HIVE reported that the company held $11 million U.S. of Bitcoin on its balance sheet at the end of the year’s second quarter.
That Bitcoin balance is small compared with HIVE Digital’s $208 million U.S. of cash and its rapidly growing data centre operations.
Prior to today (Aug. 17), HIVE stock had gained 13% over the last 12 months to trade at $2.69 U.S. per share in New York
