🇨🇦HIVE (HIVE) disclosed a binding $186.9 million equipment-and-services purchase agreement through GPU-cloud subsidiary BUZZ, with an $18.7 million deposit paid.

HIVE’s November 9 Form 10-Q discloses a binding purchase agreement entered into by its wholly owned subsidiary, Buzz Beta Cloud Inc. The $186.9 million commitment covers equipment and related services, rather than a financing facility or customer-revenue contract.

The agreement required a 10% non-refundable deposit, and HIVE paid approximately $18.7 million on July 24, 2026. A further 15% becomes payable when the original equipment manufacturer (OEM) reports receipt of the required components, with the remaining 75% due before shipment.

HIVE states that it intends to fund the outstanding balance using existing cash and available financing sources. That funding intention is not a disclosure that all remaining financing has closed, and the payment schedule should not be treated as evidence that the equipment has shipped.