HIVE secures $220M AI infrastructure contract with Bell and Cohere
Cointelegraph 2026-06-18 17:54:57
Context: Canadian Bitcoin miner HIVE Digital Technologies has secured a $220 million AI infrastructure contract with Bell and Cohere, expanding its push into high-performance computing and AI infrastructure. The deal, signed by HIVE's AI subsidiary BUZZ HPC, is expected to add approximately $70 million in annual recurring revenue. The infrastructure will be deployed at a Bell Canada data center in British Columbia.
Key Facts
- HIVE Digital Technologies' AI subsidiary BUZZ HPC has signed a three-year GPU cloud contract worth approximately $220 million with Bell AI Fabric for AI startup Cohere.
- The agreement calls for BUZZ HPC to deploy 2,304 NVIDIA Grace Blackwell GPUs at a Bell Canada data center in British Columbia, supporting Cohere's artificial intelligence models and services for enterprise and government customers.
- The project is expected to contribute about $70 million in contracted annual recurring revenue, increasing HIVE's contracted HPC revenue target to more than $100 million.
- HIVE will fund the purchase of the AI infrastructure using a portion of the proceeds from the $115 million convertible note financing it completed in April.
- HIVE's stock price was up around 9% at the time of writing and almost 24% in the past month, according to Yahoo Finance data.