Mining giant HIVE has signed a $220 million GPU contract: betting on AI and cloud services
BUZZ HPC, a subsidiary of HIVE Digital Technologies, has signed a three-year contract to provide cloud GPU services. The agreement with Bell Canada and Cohere is valued at approximately $220 million and marks another step by the mining corporation toward high-performance computing (HPC) and artificial intelligence.
Under the deal, BUZZ HPC will deploy 2,304 NVIDIA Grace Blackwell graphics processors on Bell AI Fabric infrastructure located in British Columbia, Canada. The launch is scheduled for late 2026 to early 2027. According to HIVE estimates, this contract is expected to increase annual recurring revenue by approximately $70 million, more than doubling the current figure of $35 million.
This is not the first time miners have redirected their data centers toward cloud computing and AI. However, the scale of the deal and the choice of partner — Bell Canada, one of the country's largest telecommunications operators — underscores the seriousness of HIVE's intentions to establish itself in the HPC segment. The use of Grace Blackwell GPUs, designed for energy efficiency and working with large language models, also points to the company's long-term strategy.
Expert commentary: This deal is a vivid example of how mining companies are transforming into providers of computing power for the AI industry. Given the high demand for GPUs from neural network developers, such contracts could become the main driver of revenue growth for HIVE in the coming years. However, investors should consider that the launch is scheduled for 2026–2027, leaving room for market and technological risks.