HIVE Digital Technologies, through its BUZZ High‑Performance Computing subsidiary, announced a partnership with Dell Technologies on November 17, 2025 to deploy a 63‑node cluster of liquid‑cooled Dell PowerEdge XE9680L servers at Bell AI Fabric’s data center in Canada. Each server is equipped with eight GPUs, bringing the new cluster to a total of 504 next‑generation GPUs that will be added to BUZZ’s existing fleet of more than 5,000 GPUs.
The addition of 504 GPUs expands BUZZ’s sovereign AI cloud offering and positions the company to serve Canadian government and enterprise clients that demand data‑local, high‑performance AI services. By the end of 2026, HIVE plans to have more than 11,000 GPUs across Canadian and Swedish sites, a 40% increase over the current fleet.
Financially, the partnership is expected to generate an additional $120 million in annual run‑rate revenue with an operating margin of 80% after electrical and data‑center costs. The high margin reflects the efficiency of Dell’s liquid‑cooled platform, which reduces cooling expenses and improves uptime, allowing HIVE to charge premium rates for AI workloads.
Strategically, the deal aligns with Canada’s national AI initiatives and Bell’s AI Fabric network, reinforcing HIVE’s dual‑engine strategy that couples Bitcoin mining revenue with high‑performance computing. The partnership leverages Dell’s expertise in AI infrastructure to accelerate HIVE’s deployment timeline and to deliver a more energy‑efficient, scalable platform.
The announcement was well received by investors and analysts, who highlighted the partnership as a key step in HIVE’s shift toward high‑margin AI services and its ability to fund expansion through Bitcoin mining revenue.
Looking ahead, HIVE’s guidance for 2026 targets $750 million in annual recurring revenue, with $225 million from AI cloud services and $550 million from Bitcoin mining. The company’s confidence in sustained demand for AI workloads and its focus on operational efficiency underpin this outlook.
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