Revolution in Cloud Computing: HIVE Digital Secures $220 Million GPU Contract
The high-performance computing (HPC) market continues to attract mining giants, and the deal by BUZZ HPC, a subsidiary of HIVE Digital Technologies, is a clear confirmation of this trend. The company has signed a three-year contract for cloud GPU services with Bell Canada and Cohere worth approximately $220 million. This is not just a number — it is a strategic move that redefines the role of miners in the AI era.
Under the terms of the agreement, BUZZ HPC will deploy 2,304 NVIDIA Grace Blackwell graphics processors at the Bell AI Fabric facility in British Columbia, Canada. The launch is scheduled for late 2026 to early 2027. For HIVE, this means explosive growth in contracted annual recurring revenue: from the current $35 million to an estimated $70 million. Thus, the company will double its revenue from cloud services, which is especially important amid the volatility of the cryptocurrency market.
Interestingly, HIVE Digital Technologies was originally known as a Bitcoin miner, but it is now actively diversifying its business by moving into the HPC segment. This is a logical step: GPU capacities previously tailored for mining are now in demand for training and inference of artificial intelligence models. The deal with Bell Canada and Cohere is not just a contract, but a confirmation that mining companies can successfully compete with traditional cloud providers.
My expert analysis: This is a vivid example of how the crypto industry is adapting to new realities. Miners, who previously relied solely on Bitcoin's hashrate, are now becoming key players in the AI ecosystem. HIVE's $220 million deal is a signal to the market: cloud GPU services from miners will grow, and those who invest in infrastructure today will gain a huge advantage tomorrow.