Shares of HIVE Digital Applied sciences (HIVE) soared 10% in pre-market buying and selling on Thursday after the corporate introduced a $220 million, three-year GPU cloud settlement with Bell Canada and AI firm Cohere because it continues its transition away from pure Bitcoin mining.
Underneath the settlement, HIVE’s BUZZ Excessive Efficiency Computing division will deploy 2,304 Nvidia Grace Blackwell GPUs at Bell’s AI Material facility in Merritt, British Columbia, forming a devoted compute layer for Cohere’s enterprise AI fashions serving Canadian authorities and enterprise prospects.
All infrastructure will stay in Canada, supporting Ottawa’s broader efforts to cut back reliance on foreign-controlled AI know-how.
The deployment is anticipated to be operational in late 2026 to early 2027 and generate roughly $70 million in annual recurring income (ARR). Mixed with the roughly $35 million in ARR at the moment being realized, HIVE’s contracted HPC income goal now exceeds $100 million, and it is clear that the corporate’s infrastructure axis is gaining severe industrial momentum.
