InfraCompute / Deals
HIVE BUZZ Alpha Cloud GPU-secured term loan for sovereign AI cluster
Fixed-rate amortising term loan under a loan and security agreement at project-company level (BUZZ Alpha Cloud), secured by the GPUs and related assets, with a limited recourse guarantee from BUZZ HPC and a pledge of BUZZ HPC's equity in the borrower; 80% loan-to-cost for HIVE Digital Technologies, About US$129m, 27 October 2026.
Key terms
- Borrower or issuer
- HIVE Digital Technologies
- Date
- 27 October 2026
- Structure
- Fixed-rate amortising term loan under a loan and security agreement at project-company level (BUZZ Alpha Cloud), secured by the GPUs and related assets, with a limited recourse guarantee from BUZZ HPC and a pledge of BUZZ HPC's equity in the borrower; 80% loan-to-cost
- Amount
- About US$129m
- Pricing
- 9.0% fixed
- Tenor
- Three years, principal and interest amortising; no residual payment
Recorded terms
- Lender type
- Lender type not establishedNo lender named in the public sources held
- Tenor
- Three years, principal and interest amortising; no residual payment
- Lenders and arrangers
- An institutional lender (not named)
- Use of proceeds
- Sovereign AI GPU cluster including NVIDIA GB200 NVL72 systems for the three-year fixed-term Cohere contract announced on 18 June 2026
- Status
- Loan and security agreement entered into; announced 27 October 2026
- Region
- Canada
- Notes
- Covenants include required debt-service coverage ratios. BUZZ HPC is not otherwise liable under the facility. To be repaid from contract revenue on a fixed amortisation schedule.
Parties
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Sources
About this record
Compiled from the sources above. Terms are as announced and may have changed since. Methodology · Send a correction.
