HIVE Digital Technologies has signed a $220 million GPU contract through its subsidiary BUZZ HPC.
The high-performance computing (HPC) market continues to attract major players from the crypto industry. This time, a subsidiary of HIVE Digital Technologies — BUZZ HPC — has signed a large-scale three-year contract for cloud GPU services with Bell Canada and the Cohere platform. The deal is estimated at approximately $220 million, making it one of the largest in the segment for public mining companies.
Agreement Details and Infrastructure Deployment
Under the contract, BUZZ HPC will deploy 2,304 NVIDIA Grace Blackwell graphics processors at the Bell AI Fabric facility located in British Columbia, Canada. The launch of the capacities is scheduled for late 2026 to early 2027. This is a strategically important step, as HIVE Digital Technologies has previously been actively diversifying its business from Bitcoin mining toward HPC and artificial intelligence.
The financial metrics of the deal are impressive: HIVE estimates the increase in contracted annual recurring revenue at approximately $70 million. For comparison, the company's current annual revenue is about $35 million, meaning the new contract will nearly double this figure. This confirms the trend of mining firms transforming into providers of computing power for the AI sector.
Market Context Analysis
The collaboration with Bell Canada and Cohere is not a random choice. Bell Canada is one of the country's largest telecommunications operators, and Cohere is a leading Canadian AI platform competing with OpenAI. For HIVE, this is not just a contract but an entry into the elite club of infrastructure providers for enterprise clients. The NVIDIA Grace Blackwell GPUs used in the project are considered among the most productive solutions for training large language models.
From a business model perspective, this contract provides HIVE with a stable cash flow for three years, reducing dependence on cryptocurrency volatility. This is especially relevant ahead of the halving, when miners are seeking alternative sources of income.
Expert Opinion: The BUZZ HPC deal is a vivid example of how mining companies are retraining into AI providers. However, success will depend on the timely launch of infrastructure and the ability to compete with giants like CoreWeave. If HIVE fulfills its obligations, it will pave the way for new multi-million dollar contracts with corporate clients.