According to CoinMeta, HIVE Digital (Nasdaq: $HIVE) shares rose by 14% after signing an artificial intelligence cloud computing contract worth $350 million with chip manufacturer NVIDIA (Nasdaq: $NVDA). This contract is HIVE Digital's largest artificial intelligence cloud computing contract to date and is expected to add $70 million in annual revenue to the company, bringing its annual recurring revenue (ARR) to approximately $180 million. Under the agreement, HIVE Digital will deploy 2,016 super GPU in its data center located in British Columbia. The project is expected to require about $185 million in capital expenditures, and HIVE Digital plans to fund this construction through various financing sources. It is anticipated that once the facility is fully operational in the fourth quarter of this year, GPU's cloud business will generate approximately $50,000 in revenue per day.