BUZZ HPC Lands $129M Fixed-Rate Credit Facility for Cohere GPU Cluster

What happened

The debt is held at the project level and secured by the infrastructure it funds; the company said BUZZ Alpha Cloud intends to repay the facility from contract revenue over a fixed amortization schedule. Use of Proceeds and Contract Economics Proceeds will purchase a sovereign AI GPU cluster and related infrastructure, including NVIDIA GB200 NVL72 systems, for deployment under the three-year fixed-term sovereign AI customer contract with Cohere announced on June 18, 2026.

A footnote in the release states that the $220 million total contract value previously disclosed for the Cohere deal covered only GPU compute revenue, while the $225 million figure adds revenue attributed to connectivity and storage. HIVE Digital Technologies said in an October 27, 2026 news release that BUZZ Alpha Cloud Inc., an indirect subsidiary, has entered into a Loan and Security Agreement with an institutional lender for a fixed-rate credit facility of approximately $129 million to finance an NVIDIA GB200 NVL72 GPU cluster for a sovereign AI contract with Cohere.

Facility Terms and Security Structure The facility bears a fixed interest rate of 9.0% per annum over a three-year term, with principal and interest amortizing over the life of the loan. All dollar amounts in the release are expressed in US dollars.

BUZZ HPC is not otherwise liable under the facility. The agreement carries customary terms, conditions and covenants, including required debt-service coverage ratios, and at the end of the term HIVE will own the GPUs outright with no residual payment.

Because the financing is structured as debt, no common shares of the company are issued in connection with it. President and CEO Aydin Kilic said the financing is applied toward the purchase of a $165 million cluster of 2,303 NVIDIA GB200 GPUs contracted on a three-year fixed $225 million total contract value with Cohere, an arrangement he described as an approximate 80% loan-to-cost.