HIVE Secures $129 Million Loan to Purchase 2,303 Nvidia AI Chips

HIVE Digital Technologies has secured approximately $129 million in financing for its BUZZ HPC subsidiary to purchase 2,303 Nvidia GB200 GPUs for AI cloud computing. The three-year loan carries a fixed 9% annual interest rate and is secured by the GPUs, covering roughly 80% of the cluster's estimated $165 million cost.
The financing will be repaid through revenue from HIVE's three-year AI computing contract with Cohere, valued at $225 million, including connectivity and storage. CEO Aydin Kilic also revealed that HIVE has signed $600 million in total contract value across three GPU cloud agreements this year. The remaining purchase cost will be funded through previously issued 0% interest convertible bonds.
The new GPUs are expected to arrive toward the end of Q4 2026. HIVE shares were trading at $1.84 on Nov. 4, up 1.75% for the day. Analyst sentiment remains largely positive, with Canaccord maintaining a Buy rating and a $10 price target, while KBW recently lowered its target from $4.50 to $2.50 and maintained a Hold rating.