Hive Digital Technologies announced a three-year, 220 million dollar GPU cloud contract with Bell Canada and Cohere. The deal involves deploying more than 2,300 Nvidia GPUs to support Canadian sovereign AI services. Shares in the company rose 10 percent in pre-market trading following the announcement.
The agreement calls for Hive's BUZZ High Performance Computing unit to install 2,304 Nvidia Grace Blackwell GPUs at Bell's AI Fabric facility in Merritt, British Columbia. All infrastructure will remain on Canadian soil to serve enterprise and government clients of Cohere.
The deployment is scheduled to begin operations from late 2026 to early 2027. It is expected to generate about 70 million dollars in annual recurring revenue, bringing Hive's total contracted HPC revenue above 100 million dollars.
The contract marks a further step in Hive's transition from Bitcoin mining toward high-performance computing. Officials have framed the project as part of Canada's effort to develop domestically controlled AI capabilities.
