Mining giant HIVE signs $220 million GPU contract: betting on HPC and AI
The high-performance computing (HPC) market continues to attract mining companies, and HIVE Digital Technologies is a prime example. My subsidiary BUZZ HPC has entered into a strategically important three-year contract for cloud GPU services with Bell Canada and Cohere. The total value of the agreement is approximately $220 million.
Under the deal, BUZZ HPC will deploy 2,304 NVIDIA Grace Blackwell graphics processing units at the Bell AI Fabric facility in the Canadian province of British Columbia. The infrastructure launch is scheduled for late 2026 to early 2027. This is not just equipment supply — it is integration into the ecosystem of one of Canada's largest telecommunications operators.
It is important to note the financial impact: HIVE forecasts that the contracted annual recurring revenue will increase by approximately $70 million, reaching $105 million on an annualized basis. The company's current figures — around $35 million — already demonstrate steady growth, but this contract fundamentally changes the scale of the business.
From my perspective, this decision is a logical step for miners seeking to diversify their income amid declining bitcoin profitability. The shift from ASIC mining to HPC and cloud computing allows not only to preserve infrastructure but also to gain access to the rapidly growing AI market. However, the key risk here is the launch timeline: delays in NVIDIA Grace Blackwell deliveries could shift expected financial flows.
My analysis: The contract with Bell Canada and Cohere is not just a deal, but a signal to the market: mining companies are becoming full-fledged players in the AI infrastructure space. If HIVE successfully executes this project, we will see a wave of similar partnerships among other public miners. But investors should closely monitor the deployment pace — delays could undermine confidence.