HIVE Digital Technologies Ltd. (TSX: HIVE) (NASDAQ: HIVE) (BVC: HIVECO) said its wholly owned subsidiary BUZZ High Performance Computing Inc. (“BUZZ HPC”) has secured an approximately $129 million fixed-rate financing deal, carried at a 9.0% rate with an 80% loan-to-cost structure, aimed at expanding sovereign artificial intelligence infrastructure. The announcement comes as the company issues what it describes as a “designated news release” under an amended and restated prospectus supplement dated June 16, 2026, tied to a short form base shelf prospectus filed on October 31, 2025.
Prospectus framework and timing of the announcement
The company’s update specifies that the release qualifies as a “designated news release” for regulatory purposes under HIVE’s amended and restated prospectus supplement dated June 16, 2026. That supplement sits alongside the company’s short form base shelf prospectus dated October 31, 2025.
HIVE made the announcement from San Antonio, Texas on October 28, 2026, stating that BUZZ HPC—its wholly owned subsidiary—has completed the financing secured for its BUZZ Alpha Cloud initiative, with the company providing details on the deal structure and the stated purpose of the capital.
Deal structure: fixed-rate financing with 80% loan-to-cost
According to the release, BUZZ HPC has secured approximately $129 million in financing at a 9.0% fixed rate, using an 80% loan-to-cost framework. The terms indicate the financing will cover a defined portion of the project’s overall costs, with the remainder presumably funded through other sources as determined by the transaction structure—though the release does not provide additional specifics on those other sources.
The company positioned the financing as a means to expand sovereign AI infrastructure through its BUZZ Alpha Cloud platform. While the release excerpt provided does not detail milestones, deployment schedules, or the specific scope of expansion work, it does link the financing directly to scaling infrastructure capacity.
Use of proceeds tied to sovereign AI infrastructure
In describing the significance of the transaction, HIVE emphasized the capital’s role in expanding sovereign artificial intelligence infrastructure. The statement frames the financing as part of BUZZ HPC’s efforts to build out the BUZZ Alpha Cloud capability that supports those infrastructure plans.
For investors monitoring the buildout of AI-focused infrastructure, the fixed-rate nature of the financing and the explicit loan-to-cost percentage are key elements, as they can influence the predictability of funding costs and the capital structure associated with expansion projects—though the release does not include further detail on repayment schedules or related financial commitments.
Why the release matters for HIVE investors
Beyond the financing terms, HIVE’s filing also matters because it is tied to its existing prospectus framework. By issuing the announcement as a designated news release under the June 16, 2026 supplement to its October 31, 2025 base shelf prospectus, the company underscores that the transaction is being communicated within a structured capital-markets disclosure process.
As HIVE and BUZZ HPC pursue sovereign AI infrastructure expansion, the approximately $129 million fixed-rate financing at 9.0% and the 80% loan-to-cost arrangement form the central, concrete details available from the release.
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About HIVE Digital Technologies Ltd.
HIVE Digital Technologies Ltd. is a company operating through its wholly owned subsidiary BUZZ High Performance Computing Inc., which is associated with BUZZ Alpha Cloud and related efforts to expand sovereign artificial intelligence infrastructure.
