HIVE Signs $220M AI GPU Deal With Bell, Projects $70M Annual Revenue

Bitcoin mining company HIVE Digital Technologies has signed a three-year $220 million contract to provide sovereign AI cloud infrastructure in Canada, marking another major shift toward artificial intelligence computing.

The agreement was executed through HIVE’s BUZZ High Performance Computing unit in partnership with Bell AI Fabric and AI firm Cohere. The system is designed to serve enterprise and government clients using a fully Canadian AI infrastructure stack.

Nvidia Blackwell GPUs to Power Sovereign AI Cloud

The project will deploy 2,304 Nvidia Grace Blackwell GPUs using GB200 NVL72 systems, supported by Nvidia Quantum InfiniBand networking and liquid cooling technology. The GPU cluster will be hosted at Bell’s data center in Merritt, British Columbia, and powered by renewable energy sources.

HIVE said the system is expected to go live between late 2026 and early 2027 and could generate about $70 million in annual recurring revenue, compared with the company’s current $35 million ARR.

Strategy Shift Beyond Bitcoin Mining

The deal reflects HIVE’s broader transition from pure Bitcoin mining into AI and high-performance computing infrastructure. The company is also expanding its footprint in Europe after acquiring a data center facility in Sweden, which it plans to upgrade for enterprise AI workloads.

HIVE reported $297.8 million in fiscal 2026 revenue, a 158% year-over-year increase, with AI and HPC services contributing a growing share of income.

The company’s shares rose more than 11% in pre-market trading following the announcement, reflecting investor optimism around its AI-driven growth strategy.