HIVE has signed a $220 million contract to build AI infrastructure in Canada.
Mining company HIVE Digital Technologies, known for its transition from cryptocurrency mining to high-performance computing, has signed a major three-year contract worth $220 million. The agreement involves deploying GPU infrastructure to support sovereign artificial intelligence in Canada. The BUZZ High Performance Computing division will install 2,304 Nvidia Grace Blackwell accelerators at a facility in Merritt, British Columbia.
Infrastructure for Government AI Models
These capacities will be used to serve the enterprise AI models of Cohere, which are focused on government agencies and the business sector. The project launch is scheduled for late 2026 to early 2027. This move underscores HIVE's strategic shift toward infrastructure solutions for artificial intelligence, a trend increasingly popular among crypto miners seeking to diversify their revenues.
As an analyst, I see this contract not just as a financial success for HIVE, but also as an important signal for the market. The transition from mining to AI computing allows companies like HIVE to leverage their energy resources and expertise in managing GPU farms. However, it is worth noting that the launch timeline—more than two years away—indicates the complexity and scale of the project. Given the current pace of AI development, demand for such computing power could multiply by 2027, making HIVE's investments particularly timely.