Overview
- HIVE’s BUZZ HPC unit signed a three‑year, roughly $220 million agreement with Bell Canada and Cohere announced Thursday that will place 2,304 NVIDIA Grace Blackwell GB200 GPUs at Bell’s Merritt, British Columbia data center.
- The deployment is scheduled to go live in late 2026 to early 2027 and is projected to add about $70 million in annual recurring revenue, taking HIVE’s contracted high‑performance computing (HPC) revenue above $100 million.
- HIVE completed purchase of the 32 MW Boden data center in Sweden the same day, moving from tenant to owner and gaining more direct control of a key European site it has operated since 2018.
- Investors reacted with a double‑digit stock jump after the announcements, but HIVE still needs further enterprise contracts, timely GPU deliveries, financing and utility interconnections to hit its internal $200 million ARR goal for year‑end 2026.
- The deals advance Canada’s sovereign AI push by keeping compute on domestic soil and show how a former bitcoin miner is shifting to recurring GPU cloud services, using prior financings such as a $115 million convertible note to fund hardware purchases.