HIVE Digital Technologies Subsidiary, BUZZ High Performance Computing, Accelerates Canada's AI Industrial Revolution with Dell Technologies for its AI Cloud Expansion

Executive Summary

• HIVE Digital Technologies’ BUZZ subsidiary signed an agreement with Dell Technologies to deploy a 63‑node liquid‑cooled GPU cluster (504 GPUs) at the Bell AI Fabric data center.
• Additional deployments are planned for Canadian and Swedish sites, targeting 2,000 GPUs per site in H2 2026 and a total fleet of >6,000 new GPUs by year‑end 2026, expanding BUZZ’s AI Cloud to >11,000 GPUs.
• The expansion is projected to generate an additional $120 million of annual run‑rate revenue (ARR) with an operating margin of 80%, on top of the current $20 million ARR.

Key Details

• Dell Agreement: BUZZ will install 63 Dell PowerEdge XE9680L servers, each liquid‑cooled, housing a total of 504 latest‑generation GPUs, delivered via Dell Integrated Rack Scalable Systems (IRSS) and installed in Bell AI Fabric racks (IR5000).
• Current & Planned Capacity:
• Existing GPU count: >5,000 GPUs.
• New deployments (2026): +2,000 GPUs each at Canadian and Swedish sites plus Bell AI Fabric facility.
• Total targeted fleet by end‑2026: >11,000 GPUs (including existing).
• Future Fleet Goal: Over 6,000 additional GPUs to be added in H2 2026, bringing total BUZZ AI Cloud GPU count to >11,000 by year‑end 2026.
• Revenue Impact: Projected incremental ARR of $120 million from the new GPU capacity, with an operating margin of 80% after electricity and data‑center costs. Current ARR stands at $20 million.
• Grand Falls Data Center: HIVE’s 70 MW Tier I facility (32.5 acres) in Grand Falls, NB can be upgraded to Tier III+ (PUE < 1.3), supporting >25,000 GPUs under a hyperscaler colocation model.
• Performance Ranking: BUZZ achieved Bronze status in the Semi‑Analysis ClusterMax™ rankings, surpassing many publicly traded AI cloud peers.
• Timeline: Long‑lead component procurement underway; go‑live for Canadian and Swedish sites targeted for the second half of calendar 2026.

Notable Quotes

“Our partnership with Dell and the expansion of BUZZ’s liquid‑cooled GPU infrastructure positions HIVE at the forefront of the AI race, delivering sustainable, high‑margin growth for our shareholders.” – Frank Holmes, Executive Chairman

All forward‑looking statements are subject to risks and uncertainties detailed in the Company’s continuous disclosure documents.