BUZZ HPC signs a $220 million contract: miners transition into the era of GPU cloud computing
The high-performance computing (HPC) market continues to attract the attention of crypto miners, and BUZZ HPC — a subsidiary of HIVE Digital Technologies — has just confirmed this trend with a major deal. The company has signed a three-year contract to provide cloud GPU services to Bell Canada and Cohere worth approximately $220 million. This move demonstrates how traditional mining companies are diversifying their revenues by leveraging infrastructure originally designed for cryptocurrency mining.
Under the agreement, BUZZ HPC will deploy 2304 NVIDIA Grace Blackwell GPUs at the Bell AI Fabric facility in British Columbia, Canada. The launch is scheduled for late 2026 to early 2027. According to HIVE estimates, this contract will generate additional annual recurring revenue of approximately $70 million, nearly doubling the company's current figures of $35 million for the same period.
It is worth noting that the choice of the Grace Blackwell architecture is no coincidence. NVIDIA positions these chips as the optimal solution for artificial intelligence and high-performance computing tasks, which perfectly aligns with the needs of Bell Canada and Cohere. For HIVE, this is not just equipment leasing but a strategic investment in a future where mining infrastructure becomes a versatile asset.
My Expert Perspective
This contract is further proof that the era of exclusively ASIC mining for major players is coming to an end. HIVE Digital Technologies is wisely utilizing its resources by pivoting to cloud GPU services, which generate stable fiat income and are less susceptible to crypto market volatility. However, the timeline should be monitored: a launch in late 2026 is a long horizon, and competition in the HPC market could change significantly during this period. Nevertheless, for investors, this is a signal: miners are no longer just bitcoin extractors; they are becoming key players in the global cloud economy.