HIVE Digital Applied sciences (HIVE) shares jumped 10% in pre-market buying and selling on Thursday after the corporate introduced a $220 million, three-year GPU cloud contract with Bell Canada and AI agency Cohere, as the corporate continues its transition away from pure-play bitcoin mining.
The deal will see HIVE’s BUZZ Excessive Efficiency Computing unit deploy 2,304 Nvidia Grace Blackwell GPUs at Bell’s AI Cloth facility in Merritt, British Columbia, forming the devoted compute layer for Cohere’s enterprise AI fashions serving Canadian authorities and company purchasers.
All infrastructure will stay on Canadian soil, supporting Ottawa’s broader push to scale back reliance on foreign-controlled AI expertise.
The deployment is predicted to go reside from late 2026 to early 2027, including roughly $70 million in annual recurring income (ARR). Mixed with roughly $35 million of present realised ARR, HIVE’s contracted HPC income goal now exceeds $100 million, a transparent sign that its infrastructure pivot is gaining critical business momentum.