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HIVE Lands $220 Million AI Cloud Deal With Bell Canada and Cohere
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HIVE Digital’s BUZZ HPC unit has signed a three-year GPU cloud contract worth about $220 million as part of a Canadian sovereign AI infrastructure partnership with Bell Canada and Cohere.
Key facts
- The team expect this NVIDIA GB200 deployment to go live in late 2026 to early 2027, adding approximately contracted $70m ARR to their current realized $35m ARR
- HIVE is funding the NVIDIA systems using part of the proceeds from its $115 million convertible note financing completed in April 2026
- HIVE President and CEO Aydin Kilic said the company has now surpassed its target of $100 million in contracted HPC revenue
- HIVE has operated at the site as a tenant since 2018 and has invested about $100 million in the region
Summary
HIVE’s BUZZ HPC signed a 3-year, $220M AI cloud deal with Bell Canada and Cohere. NVIDIA-powered AI factories could add $70M ARR, boosting HIVE’s HPC expansion. HIVE plans a 32MW Sweden upgrade, with GB200 systems going live by early 2027. HIVE Digital Technologies is moving deeper into artificial intelligence (AI) infrastructure through a major Canadian sovereign AI deal with Bell Canada and Cohere.