BUZZ HPC signs $220 million GPU contract: betting on cloud computing and AI transformation
BUZZ HPC, a subsidiary of HIVE Digital Technologies, has officially signed a three-year contract to provide cloud GPU services to Bell Canada and Cohere. The deal is estimated to be worth approximately $220 million. This is one of the largest contracts in the high-performance computing (HPC) sector for a crypto-mining company that is actively diversifying its business toward AI infrastructure.
Under the agreement, BUZZ HPC will deploy 2,304 NVIDIA Grace Blackwell GPUs at the Bell AI Fabric facility located in British Columbia, Canada. The infrastructure launch is scheduled for late 2026 to early 2027. According to the company's estimates, this contract is expected to increase annual recurring revenue by approximately $70 million — compared to the current $35 million. Thus, revenue from HPC services could more than double.
Strategic Shift: From Mining to AI Cloud
HIVE Digital Technologies, originally known as one of the largest public Bitcoin miners, is consistently transforming into a provider of high-performance computing power. The contract with Bell Canada and Cohere is a clear confirmation of this strategy. The company is betting on growing demand from AI startups and corporate clients that require expensive GPU clusters for training and inference of neural networks.
From a market context perspective, the deal demonstrates that infrastructure players from the crypto industry are successfully competing with traditional cloud providers. The use of cutting-edge NVIDIA Grace Blackwell chips is not just an upgrade but a bid for leadership in the AI computing segment.
Cryptalist Expert Opinion: The BUZZ HPC contract is not just a deal but a signal to the market. Mining companies that previously relied solely on Bitcoin volatility are now finding stable, long-term revenue sources in the AI sector. If HIVE manages to launch the infrastructure on time, it could capture a significant share of the rapidly growing cloud GPU services segment in North America. However, the key risk is delays in NVIDIA equipment deliveries, which have already disrupted the schedules of other operators multiple times.