HIVE Digital Technologies Secures $220M AI Infrastructure Deal
- HIVE shares increased by 10% in pre-market trading following the announcement.
- The company signed a $220 million, three-year GPU cloud contract with Bell Canada and Cohere.
- HIVE will deploy 2,304 Nvidia Grace Blackwell GPUs at Bell’s facility in British Columbia.
- The project aims to support AI models for Canadian government and corporate clients.
- This deal is expected to generate approximately $70 million in annual recurring revenue (ARR).
- Combined with existing revenue, HIVE’s HPC revenue target exceeds $100 million.
This contract marks a significant shift for HIVE as it moves away from pure-play bitcoin mining. The deployment of GPUs will contribute to Canada’s goal of reducing reliance on foreign-controlled AI technology.
With the new contract, HIVE anticipates adding roughly $70 million in ARR, reinforcing its strategy to pivot towards high-performance computing solutions.(Source)
