Hive gains 10% after securing $220M Canada sovereign AI contract

HIVE Digital Technologies shares climbed 10% in pre-market trading after the company announced a $220 million, three-year GPU cloud contract with Bell Canada and AI firm Cohere, as it continues its transition away from pure-play bitcoin mining.

Under the deal, 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, forming the dedicated compute layer for Cohere's enterprise AI models serving Canadian government and corporate clients.

All infrastructure will remain on Canadian soil, supporting Ottawa's broader push to reduce reliance on foreign-controlled AI technology. The deployment is expected to go live from late 2026 to early 2027 and to add roughly $70 million in annual recurring revenue; combined with about $35 million of current realised ARR, HIVE's contracted HPC revenue now exceeds $100 million, a sign the infrastructure pivot is gaining commercial momentum.

Canada, Merritt, British Columbia

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