HIVE's subsidiary receives $129 million in financing

HIVE Digital Technologies, a Bitcoin mining company, announced that its subsidiary BUZZ Alpha Cloud has signed a fixed-rate credit agreement with institutional lenders for approximately $129 million, with an annual interest rate of 9.0% and a term of three years, with a loan-to-value ratio of about 80%.

The financing will be used to purchase an AI GPU cluster and related infrastructure, including the NVIDIA GB200 NVL72 system, to fulfill a three-year sovereign AI customer contract signed with Cohere. The CEO of HIVE stated that this financing corresponds to the procurement of 2,303 NVIDIA GB200 GPUs worth approximately $165 million, with the related equity contribution coming from the company's 0% convertible bonds issued earlier this year. The company expects GPU deliveries to take place by the end of the fourth quarter of 2026.