Leopold Aschenbrenner’s Situational Awareness Names Hive Digital Technologies Among Top Under-the-Radar AI Stocks
Leopold Aschenbrenner, the former OpenAI researcher whose widely read “Situational Awareness” report has become a touchstone for AI investors, recently updated his portfolio to highlight a handful of lesser-known AI plays. Among them is Hive Digital Technologies (NASDAQ:HIVE), ranked #10 on his list of under-the-radar AI stock picks (see the full Situational Awareness Top 5 Under-The-Radar AI Stock Picks). Aschenbrenner’s personal stake in HIVE is currently valued at roughly $6,443,939, signaling conviction in the company’s transformation.
From Bitcoin Miner to AI Cloud Contender
Founded in 2017, Hive Digital originally made its name as a renewable-energy-focused Bitcoin miner. But bulls are increasingly focused on a different story: its AI cloud subsidiary, BUZZ High-Performance Computing, which rents out GPU clusters for AI workloads. BUZZ is an Nvidia Cloud Partner, giving it access to enterprise-grade sales channels that many smaller competitors lack. While current annualized revenue from BUZZ sits at approximately $20 million, the trajectory—rather than the base—is what excites investors.
Key Contracts and Growing Traction
In February 2026, BUZZ signed a two-year, $30 million contract for 504 Nvidia B200 GPUs to be deployed at its Canada West facility. That single deal is expected to boost BUZZ’s annual recurring revenue (ARR) by roughly 75%. Importantly, the contract spans multiple customer agreements rather than a single tenant, suggesting BUZZ is building a diversified revenue base rather than relying on one anchor client.
Then, in March 2026, BUZZ partnered with AMC Robotics Corporation, an AI-driven robotics firm using BUZZ’s facility for development and deployment of new systems. The deal demonstrates that BUZZ can serve customers across verticals—robotics, security, logistics—beyond just traditional AI model training.
Ambitious Guidance and Strategic Backing
Management has guided for $225 million in total HPC annual recurring revenue by the end of 2026—a more than 10x jump from current levels. While ambitious, the path is underpinned by a strategic partnership with Bell Canada, the country’s largest telecom carrier. As part of Bell’s “AI Fabric” initiative, Hive is upgrading its Grand Falls and New Brunswick locations with dedicated 100 Gbps and 400 Gbps optical fiber connections, making it one of the best-connected AI compute facilities in Eastern Canada.
Financial Snapshot: Revenue Up 230%
The most recent quarterly results underscore the momentum: revenue growth of about 230% year-over-year, with gross operating margins expanding 14 percentage points from 22% to 36%. Analysts called the margin improvement particularly notable given Bitcoin price volatility during the period—a sign that the AI cloud business is increasingly insulating Hive from crypto market swings.
The Bigger Picture
Hive Digital’s pivot mirrors a broader trend of crypto infrastructure players repurposing their energy and hardware assets for AI compute. As demand for GPU cloud services surges, companies like Hive—with existing data centers, power agreements, and Nvidia partnerships—may be well-positioned to capture a slice of the market. Still, Aschenbrenner’s pick is not without risks: execution on the $225 million ARR target, sustained GPU availability, and competition from hyperscalers all remain factors to watch.
For investors seeking more direct exposure to the AI compute theme, our free report on the best short-term AI stock highlights a name that also benefits from Trump-era tariffs and the onshoring trend—a setup that many analysts believe offers even greater upside with less downside risk.
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