BUZZ HPC signs $220 million GPU contract: a new era for HIVE Digital Technologies
A major player in the mining and high-performance computing (HPC) sector, HIVE Digital Technologies, is making a strategic move beyond traditional Bitcoin mining. Its subsidiary, BUZZ HPC, has signed a large-scale three-year contract to provide cloud GPU services for Bell Canada and Cohere, valued at approximately $220 million. This is not just a deal — it is a clear signal to the market about diversification and a shift toward the HPC segment.
Under the agreement, BUZZ HPC will deploy 2,304 of the most powerful NVIDIA Grace Blackwell GPUs at the Bell AI Fabric facility in British Columbia, Canada. This step will allow the company to handle high-load AI tasks, such as training large language models and complex computations. The infrastructure launch is expected to take place in late 2026 to early 2027.
The financial impact is impressive: HIVE forecasts that its contracted annual recurring revenue will grow to approximately $70 million, doubling the current figure of $35 million. For a company that traditionally earned from Bitcoin mining, this represents a significant shift toward stable, long-term revenue from AI and HPC services.
This contract highlights how miners are adapting to new market realities by leveraging their expertise in managing energy-intensive data centers and equipment cooling. The partnership with Bell Canada and Cohere — leaders in telecommunications and AI — adds weight to the deal and opens doors for further collaborations in the North American region.
Expert commentary: From my perspective, this deal is a vivid example of how Bitcoin mining infrastructure can be repurposed for the needs of the AI industry. If HIVE successfully implements this project, we will see a wave of similar contracts from other mining companies seeking to diversify their revenues and reduce dependence on cryptocurrency volatility.