HIVE Digital Technologies solidifies its position in HPC: $220 million GPU contract with Bell Canada and Cohere
The high-performance computing (HPC) market continues to attract mining companies seeking ways to diversify their revenue. A prime example is BUZZ HPC, a subsidiary of HIVE Digital Technologies, which has signed a strategically important three-year contract to provide cloud GPU services. The partners in the deal are telecommunications giant Bell Canada and Canadian AI company Cohere. The agreement is valued at approximately $220 million.
Under the contract, BUZZ HPC will deploy 2304 NVIDIA Grace Blackwell GPUs at the Bell AI Fabric facility located in British Columbia, Canada. This is not just a hardware supply deal but a full integration into the customer's infrastructure, reflecting a high level of trust in HIVE as an HPC capacity operator.
Financial Expectations and Timeline
The project launch is scheduled for late 2026 to early 2027. According to HIVE's estimates, this contract will increase annual contracted recurring revenue by approximately $70 million. For context, the company's current figure is about $35 million per year. Thus, we are witnessing a potential tripling of HPC revenue over the next two years.
From my perspective, this decision demonstrates HIVE's mature approach to asset management. Instead of relying solely on the volatile bitcoin market, the company is actively monetizing its equipment in the AI sector, where demand for computing power remains consistently high. The deal with Bell Canada and Cohere is not just a contract but a strategic anchor that will provide HIVE with predictable cash flow for years to come, while simultaneously strengthening its reputation as a serious player in the HPC industry.