Strategic Leap: BUZZ HPC (HIVE) signed a $220 million GPU contract with Bell Canada and Cohere
A subsidiary of HIVE Digital Technologies — BUZZ HPC — has made a powerful move in the high-performance computing market. A three-year contract has been signed to provide cloud GPU services for Canadian giants Bell Canada and Cohere. The deal is valued at approximately $220 million — these are not just numbers, but a clear signal of where capital is flowing in the era of AI.
Under the agreement, BUZZ HPC will deploy 2,304 NVIDIA Grace Blackwell GPUs on Bell AI Fabric's infrastructure in British Columbia. These are not "toy" volumes: we are talking about flagship next-generation accelerators that provide a multiple increase in performance for training and inference of large language models. The launch is scheduled for late 2026 — early 2027, indicating long-term planning and confidence in demand.
For HIVE, this contract is a strategic turning point. The company, traditionally associated with Bitcoin mining, is increasingly diversifying its business towards HPC and AI computing. BUZZ HPC's current annual recurring revenue is approximately $35 million, and with the launch of the new contract, it will grow by about $70 million. Thus, revenue from GPU services will nearly triple — from $35 million to $105 million per year. This is not just growth, but a change in scale.
My analysis: The market has long been waiting for miners to start massively repurposing their data centers for AI workloads. HIVE is at the forefront here. The contract with Bell and Cohere is not a one-off deal, but proof that infrastructure built for mining can be effectively adapted for cloud computing. If HIVE can scale this model, we will see a new wave of consolidation in the sector.