Key Highlights
- HIVE Digital shares soared 11.8% during premarket hours Thursday following the announcement of a $220M GPU cloud partnership
- The agreement spans three years with Bell Canada and artificial intelligence company Cohere, featuring 2,304 NVIDIA Grace Blackwell GPUs
- Hardware deployment will occur at Bell’s British Columbia location in Merritt, with operations beginning late 2026 through early 2027
- This partnership contributes approximately $70M in yearly recurring income; total contracted high-performance computing revenue now exceeds $100M
- Separately, HIVE completed the purchase of its 32 MW Boden, Sweden facility, converting from lessee to property owner following eight years of operations
HIVE Digital Technologies (HIVE) shares experienced a dramatic premarket rally Thursday, climbing nearly 12% as the company simultaneously unveiled two significant strategic announcements.
HIVE Digital Technologies Ltd., HIVE
Shares were changing hands near $3.97 ahead of the disclosure. Leading up to Thursday’s session, HIVE had already delivered impressive gains of 125% throughout the preceding year.
The primary catalyst emerged from BUZZ High Performance Computing Inc., a fully owned HIVE subsidiary, which finalized a three-year GPU cloud agreement valued at roughly $220 million alongside Bell Canada and artificial intelligence developer Cohere.
This collaboration integrates Bell AI Fabric’s nationwide data infrastructure network, Cohere’s commercial AI technology stack, and BUZZ HPC’s NVIDIA-powered GPU cloud capabilities.
BUZZ HPC has secured 2,304 NVIDIA Grace Blackwell GPUs, organized within NVIDIA GB200 NVL72 rack-scale configurations. This represents a substantial allocation of NVIDIA’s cutting-edge computing hardware.
The complete infrastructure buildout will take place at Bell’s Merritt, British Columbia campus. Full deployment and operational status is anticipated between late 2026 and the beginning of 2027.
The computing resources will power Cohere’s enterprise artificial intelligence platforms, currently utilized by Canada’s federal administration and various business clients. Importantly, all infrastructure remains within Canadian borders.
Financial Implications
The newly announced NVIDIA GB200 installation is projected to generate approximately $70 million in yearly recurring revenue. With HIVE currently generating $35 million in ARR, this agreement effectively triples that revenue stream.
HIVE’s total contracted high-performance computing revenue objective has now crossed the $100 million threshold, demonstrating the company’s substantial evolution beyond its original cryptocurrency mining operations.
HIVE plans to finance the NVIDIA Grace Blackwell hardware acquisition through capital raised from its $115 million convertible note offering finalized in April 2026.
The Bell and Cohere partnership represents the most substantial evidence to date that HIVE’s strategic pivot from cryptocurrency mining toward data center operations is achieving meaningful commercial success.
Swedish Property Acquisition
In a parallel development, the Boden Municipal Council granted approval for HIVE’s purchase of the Big Boden 32 MW data center from Bodens Utvecklings AB located in Sweden.
HIVE has maintained operations at this Boden location since 2018. Through this transaction, the company transitions from operating as a tenant to becoming the facility owner.
Throughout eight years, the company has committed over 960 million SEK — roughly $100 million — in investments within the Boden area. Additionally, it has contributed more than 575 million SEK, exceeding $60 million, in municipal taxes throughout this period.
Direct ownership of the property provides HIVE with enhanced operational authority over a location that has served as a cornerstone of its business activities for almost ten years.
The dual announcements — a substantial North American artificial intelligence partnership combined with a European data center property acquisition — arrived simultaneously, providing shareholders with considerable strategic updates.
HIVE’s committed high-performance computing revenue has now surpassed $100 million, with the Bell Canada and Cohere GPU infrastructure scheduled for activation during late 2026 or the opening months of 2027.
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