HIVE Digital secures $220M AI deal, pivots from Bitcoin
6.6 Investments HIVE Digital inks $220M AI deal with Bell Canada and Cohere, deploying 2,304 NVIDIA GPUs in BC. The project is set to generate $70M in annual revenue and marks HIVE’s pivot from Bitcoin mining to AI.
HIVE Digital Technologies has landed a $220 million, three-year AI infrastructure contract via its subsidiary BUZZ High Performance Computing, in partnership with Bell Canada and AI firm Cohere. The deal involves deploying 2,304 NVIDIA Grace Blackwell GPUs at Bell’s data center in Merritt, British Columbia, to create a sovereign Canadian AI platform for enterprise and government clients. The infrastructure will utilize advanced NVIDIA technologies, including GB200 NVL72 rack-scale systems, Quantum InfiniBand networking, and liquid cooling, all powered by renewable energy. HIVE expects the project to generate approximately $70 million in annual recurring revenue, raising its contracted high-performance computing revenue target to over $100 million. This agreement marks a significant strategic shift for HIVE from Bitcoin mining to AI infrastructure, supporting Canada’s federal AI strategy by keeping data and compute resources within the country. Following the announcement, HIVE’s stock rose over 7%, and the company revealed plans for a large-scale Toronto data center by 2028.
