Mining giant HIVE transforms: a $220 million contract with Bell Canada and Cohere changes the game
The digital asset market is undergoing a fundamental transformation, and HIVE Digital Technologies is a prime example. Its subsidiary, BUZZ HPC, has entered into a strategic three-year contract worth approximately $220 million with Canadian giants Bell Canada and Cohere. The deal involves deploying 2,304 NVIDIA Grace Blackwell GPUs at the high-performance Bell AI Fabric facility located in British Columbia.
This is not just another cloud computing deal. For HIVE, it is a clear signal to the market: the company is no longer limited to Bitcoin mining. It is actively diversifying its business by investing in infrastructure for artificial intelligence. The project is expected to launch in late 2026 or early 2027. HIVE already forecasts that this contract will boost annual recurring revenue to approximately $70 million, doubling the current $35 million.
Why is this important for the crypto industry?
Miners worldwide are seeking ways to survive the halving and volatility. Transitioning to HPC (High-Performance Computing) is one of the most logical steps. HIVE demonstrates how to effectively leverage existing capacity and expertise in energy management. Instead of simply selling hash rate, the company offers computational resources for training AI models—a sector experiencing exponential growth.
From an analyst's perspective, this is a brilliant move. The contract with Bell Canada and Cohere not only ensures a stable cash flow for the next three years but also builds a significant foundation for the future. If HIVE can scale this model, we will witness a new wave of consolidation in the sector, where traditional miners become key players in cloud-based AI infrastructure. This could fundamentally change how such companies' stocks are valued on the stock market.