Shares of HIVE Digital Technologies rose after the company announced a three-year, $220 million GPU cloud contract with Bell Canada and Cohere.
summary
- HIVE subsidiary BUZZ HPC has signed a three-year, $220 million AI cloud contract with Bell and Cohere.
- The deal covers 2,304 Nvidia Grace Blackwell GPUs directly at Bell’s Merritt facility in Canada.
- crypto.news previously reported on HIVE’s AI turnaround, Bitcoin holdings falling, and HPC revenues increasing this year.
The deal adds another step to HIVE’s transition from pure Bitcoin mining to high-performance AI computing.
Company He said The BUZZ HPC will provide the cloud GPU layer for the project. The deployment will use 2,304 Nvidia Grace Blackwell GPUs at Bell’s AI Fabric facility in Merritt, British Columbia.
Bell and Cohere installs Canadian AI stack
The infrastructure will support Cohere’s enterprise AI models for Canadian government and corporate customers. HIVE said the computing layer will remain on Canadian soil, to fit Canada’s push for homegrown artificial intelligence systems and local control of data.
Bell AI Fabric will provide the data center and network services. Cohere will use the platform for foundation models and enterprise AI tools, while Hypertec will supply the group with Canadian-made hardware.
Canada has “the talent and innovation to lead AI,” said Michel Richer, CEO of Bell AI Fabric. AI buyers from organizations and governments need to know “where these models work” and how data stays protected, said Michael Pelosi of Cohere.
Bitcoin Miner Deepens Artificial Intelligence Pivot
The contract reinforces HIVE’s shift away from relying solely on Bitcoin mining revenues. The company is building its AI and HPC businesses within BUZZ HPC as miners look for new uses for power, cooling and data center capacity.
The project is expected to be operational from late 2026 to early 2027. Reports said the contract could add about $70 million in annual recurring revenue. This would bring HIVE’s contracted HPC revenue target to more than $100 million when combined with its current run rate.
Ditto I mentioned By crypto.news, HIVE’s HPC revenue rose 94% to $19.5 million in fiscal 2026. Crypto.news also reported that BUZZ HPC reached $35 million in contracted recurring revenue ahead of the new Canada deal.
Miners race for AI revenue
HIVE isn’t the only Bitcoin mining company turning to AI infrastructure. Crypto.news reported this earlier Erin, Deer bitOther mining-related companies are shifting data center capacity to AI and cloud computing clients.
This shift reflects a broader trend in the mining sector. Miners already have power contracts, cooling systems, technical teams, and facilities that can support GPU workloads. These assets can help them serve AI clients when mining margins decline.
HIVE has also outlined a larger plan for AI in Canada. Crypto.news previously reported that the company Announce Proposed Toronto AI ‘superfactory’ with capacity of 320 MW and more than 100,000 GPUs.
The Bell and Cohere contract gives HIVE a clearer business case for this strategy. It also gives the company a great relationship with AI customers as demand for sovereign cloud infrastructure grows in Canada.
