Bitcoin mining firm HIVE subsidiary secures $129 million in financing for AI GPU cluster

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Bitcoin news: HIVE Digital Technologies announced that its subsidiary, BUZZ Alpha Cloud, secured a $129 million fixed-rate loan at 9.0% annual interest for three years, with an 80% loan-to-value ratio. The funds will be used to purchase AI GPU clusters, including NVIDIA GB200 NVL72 systems, under a three-year contract with Cohere. The CEO noted that the purchase includes 2,303 GB200 GPUs valued at $165 million, supported by equity from zero-percent convertible bonds issued earlier this year. Deliveries are expected by late 2026. AI and crypto news continues to demonstrate strong cross-sector growth.

According to Mars Finance, Bitcoin mining company HIVE Digital Technologies announced that its subsidiary, BUZZ Alpha Cloud, has entered into a $129 million fixed-rate credit agreement with an institutional lender at an annual interest rate of 9.0%, with a three-year term and a loan-to-value ratio of approximately 80%. The financing will be used to purchase AI GPU clusters and related infrastructure, including NVIDIA GB200 NVL72 systems, to fulfill a three-year sovereign AI client contract with Cohere. HIVE’s CEO stated that this financing corresponds to the procurement of approximately 2,303 NVIDIA GB200 GPUs valued at $165 million, with the equity contribution coming from the company’s 0% interest convertible bonds issued earlier this year. The company expects GPU deliveries to occur by the end of the fourth quarter of 2026.

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