HIVE Digital Technologies Ltd. (HIVE) shares jumped about 8% in Monday premarket trading after the company announced a five-year GPU cloud services agreement worth approximately $350 million. The deal, signed with an investment-grade enterprise customer, is a big vote of confidence in the company's AI infrastructure play.

BUZZ HPC Adds $70 Million in Annualized Revenue

The five-year agreement is expected to add roughly $70 million in annualized revenue, lifting BUZZ HPC's total annualized revenue to about $180 million. Of that, approximately $35 million is currently active, while $145 million in contracted revenue is expected to come online through the fourth quarter of 2026.

2,016 NVIDIA Blackwell Ultra GPUs Planned

BUZZ HPC will deploy 2,016 NVIDIA (NVDA) Blackwell Ultra GPUs in GB300 NVL72 systems, supported by NVIDIA Quantum-X800 InfiniBand networking and VAST Data storage. The cluster is expected to become operational later in 2026 at the Bell AI Fabric facility in Merritt, British Columbia.

The facility runs on 100% renewable hydroelectric power and uses closed-loop liquid cooling that eliminates ongoing water consumption for cooling. That's a nice touch for a company that's increasingly being judged on its environmental footprint.

With S&P 500 futures up about 0.2% in premarket trading, HIVE's roughly 9% gain highlights investor reaction to the company's expanded contracted AI infrastructure revenue. It's a clear signal that the market sees this as a meaningful step forward.

HIVE Stock: Key Technical Levels To Watch

From a longer-term technical perspective, HIVE remains in an intermediate downtrend despite signs of a near-term rebound. The stock is 13.6% below its 50-day SMA of $3.36 and 5.8% below its 100-day SMA of $3.08, while trading 1.2% above its 20-day SMA of $2.87. That setup suggests an early bounce that still needs follow-through.

Momentum is improving. MACD is above its signal line with a positive histogram, indicating that selling pressure is easing and buyers are beginning to regain control. But the broader trend remains mixed. The 20-day SMA is still below the 50-day SMA, a bearish signal, while the 50-day SMA remains above the 200-day SMA following June's golden cross.

Bulls would likely want to see HIVE reclaim the 200-day SMA near $3.04 before targeting the 50-day SMA. Key resistance sits at $3.00, near the 200-day SMA zone, while key support is at $2.50, where buyers previously stepped in; a break below could refocus attention on the lower end of the 52-week range.

Analyst Ratings Point to Upside for HIVE

The stock carries a Buy rating with an average price forecast of $6.80 (high $10.00, low $4.60) across 10 analysts. Recent analyst moves include:

• Chardan Capital: Initiated with Buy (Target $7.50) (July 27)
• Keefe, Bruyette & Woods: Market Perform (Raises Target to $5.00) (June 5)
• Canaccord Genuity: Buy (Maintains Target $10.00) (June 5)

HIVE Stock Price Movement in Premarket

HIVE Digital Technologies shares were up 8.16% at $2.91 during premarket trading on Monday, according to market data. That's a solid move for a stock that's been in the doldrums for a while, and it suggests that the AI cloud deal is being viewed as a potential game-changer.