HIVE Digital Technologies strengthens its position in HPC: subsidiary signs $220 million GPU contract with Bell Canada and Cohere
A major player in Bitcoin mining and high-performance computing (HPC), HIVE Digital Technologies, continues its strategic transformation. Its subsidiary, BUZZ HPC, has signed a three-year contract to provide cloud GPU services to Canadian telecommunications giant Bell Canada and leading AI company Cohere. The total value of the agreement is estimated at approximately $220 million.
Under the contract, BUZZ HPC will deploy 2,304 NVIDIA Grace Blackwell accelerators at the Bell AI Fabric facility located in British Columbia. The infrastructure launch is scheduled for late 2026 to early 2027. This deal marks a significant step forward for HIVE, which is actively diversifying its business, transitioning from exclusively cryptocurrency mining to providing computing power for artificial intelligence.
The financial metrics of the deal are impressive. HIVE estimates that this contract will generate approximately $70 million in annual recurring revenue, more than doubling the company's current figure of $35 million. This is not just growth — it is a qualitative leap in the business model. The company is ceasing to be merely a miner and is becoming a provider of critical infrastructure for the AI sector.
Analytical conclusion: This deal is a vivid example of how mining companies with substantial energy and operational resources can successfully compete in the new AI economy. The shift from ASIC mining to GPU cloud is not just a trend but a necessity for survival and growth. The agreement with Bell Canada and Cohere, two pillars of the Canadian technology industry, confirms that HIVE is not just adapting to the market but actively shaping it. If the launch goes according to plan, we will see a new wave of consolidation and repurposing of capacity among major miners.