AI Infrastructure Win in Canada Drives 10% Gain in Hive Shares

Here’s another rewrite with a slightly sharper, more compact news style:

A GPU cloud deal with Bell and Cohere further accelerates HIVE’s shift from bitcoin mining into high-performance AI computing.

HIVE Digital Technologies (HIVE) rose 10% in pre-market trading on Thursday after announcing a $220 million, three-year GPU cloud contract with Bell Canada and AI firm Cohere, marking another step in its transition away from pure-play bitcoin mining.

Under the agreement, HIVE’s BUZZ High Performance Computing unit will deploy 2,304 Nvidia Grace Blackwell GPUs at Bell’s AI Fabric facility in Merritt, British Columbia. The infrastructure will power Cohere’s enterprise AI models used by Canadian government and corporate clients.

The entire setup will remain in Canada, supporting national efforts to maintain sovereignty over critical AI infrastructure.

The project is expected to go live between late 2026 and early 2027 and is projected to generate about $70 million in annual recurring revenue. Combined with roughly $35 million in current ARR, HIVE’s contracted HPC revenue now exceeds $100 million, highlighting increasing momentum in its AI infrastructure pivot.