Canada · Nvidia · Blackwell · United Kingdom · CoinDesk
Hive shares climbs 10% on $220m Canada sovereign AI infrastructure agreement
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HIVE Digital Technologies (HIVE) shares jumped 10% in pre-market trading on Thursday after the company announced a $220 million, three-year GPU cloud contract with Bell Canada and AI firm Cohere, as the company continues its transition away from pure-play bitcoin mining.
Key facts
- HIVE Digital Technologies (HIVE) shares jumped 10% in pre-market trading on Thursday after the company announced a $220 million, three-year GPU cloud contract with Bell Canada and AI firm Cohere
- In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024
- The deployment is expected to go live from late 2026 to early 2027, adding roughly $70 million in annual recurring revenue (ARR)
- The deal will see HIVE's BUZZ High Performance Computing unit deploy 2,304 Nvidia Grace Blackwell GPUs at Bell's AI Fabric facility in Merritt, British Columbia, forming the dedicated compute layer
Summary
The $220 million deal will see HIVE provide sovereign AI computing infrastructure in Canada through a deployment of more than 2,300 Nvidia GPUs. The agreement is expected to add roughly $70 million in annual recurring revenue, pushing HIVE's contracted HPC revenue above $100 million. The deal will see HIVE's BUZZ High Performance Computing unit deploy 2,304 Nvidia Grace Blackwell GPUs at Bell's AI Fabric facility in Merritt, British Columbia, forming the dedicated compute layer for Cohere's enterprise AI models serving Canadian government and corporate clients. All infrastructure will remain on Canadian soil, supporting Ottawa's broader push to reduce reliance on foreign-controlled AI technology.