HIVE Reports $220M AI Infrastructure Deal, Shares Rise 10%
HIVE Digital Technologies shares surged 10% following the announcement of a $220 million GPU cloud contract with Bell Canada and AI firm Cohere, as reported by CoinDesk. The contract aims to support Canadian infrastructure for artificial intelligence, showcasing HIVE's pivot away from bitcoin mining.
HIVE Digital Technologies (HIVE) has announced a $220 million, three-year contract to provide AI computing infrastructure in Canada. This deal involves deploying 2,304 Nvidia Grace Blackwell Graphics Processing Units (GPUs) at Bell Canada’s AI Fabric facility in Merritt, British Columbia, which will support enterprise AI models for various government and corporate clients.
This new focus on AI marks a significant shift for HIVE, which has historically concentrated on bitcoin mining. The company expects this contract to contribute approximately $70 million in annual recurring revenue, which will boost HIVE's total contracted high-performance computing (HPC) revenue beyond $100 million.
The AI infrastructure will remain on Canadian soil, aligning with the Canadian government’s efforts to diminish reliance on foreign-controlled AI technology. "This deployment solidifies our commitment to building a fully sustainable computing environment in Canada," said HIVE’s executive team.
The project is slated to launch between late 2026 and early 2027, highlighting HIVE's potential for substantial growth as it ventures deeper into the AI sector while pulling back from traditional cryptocurrency mining activities.
Investors may want to watch HIVE's upcoming activities closely, as the success of this infrastructure deal could indicate further strategic pivots in the broader tech landscape and HIVE's role within it.
Summary based on original reporting by James Van Straten at CoinDesk, originally published Jun 18, 2026. SolanaWire does not republish source content.
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