RETRANSMISSION: HIVE's BUZZ HPC Secures Approximately $129 Million at 9.0% Fixed-Rate Financing at 80% Loan-to-Cost to Expand Sovereign AI Infrastructure
HIVE's subsidiary BUZZ Alpha Cloud secured a $129 million, 9.0% fixed-rate, three-year credit facility at roughly 80% loan-to-cost to purchase a $165 million NVIDIA GB200 GPU cluster for its sovereign AI contract with Cohere. The facility is held at the project level, secured by the GPUs and related assets, and repaid from contracted revenue — no common shares are issued. HIVE will own the GPUs outright at the end of the term with no residual payment.
Key figures
- Deal Value Usd
- 129000000
- Gpu count
- 2303
- Loan term
- 3 years
- Cohere tcv
- $225 million over 3 years (incl. compute, connectivity, storage)
- Loan to cost
- 80%
- Interest rate
- 9.0% fixed per annum
- Ytd signed tcv
- $600 million across 3 GPU off-take contracts
- Gpu cluster cost
- 165000000
- Convertible bonds net
- approximately $200 million after capped calls
- Convertible bonds gross
- 245000000
AI analysis
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