The deal with Bell Canada and Cohere boosts HIVE’s annual recurring revenue by $70 million, pushing HPC revenue above $100 million.
HIVE Digital Technologies shares rose 10% after securing a $220 million GPU cloud contract to provide sovereign AI computing infrastructure in Canada. The three-year agreement involves deploying over 2,300 Nvidia GPUs at Bell’s AI facility, supporting Cohere’s enterprise AI models for government and corporate clients.
The contract is expected to generate $70 million in annual recurring revenue, elevating HIVE’s total contracted HPC revenue above $100 million. This follows existing ARR of approximately $35 million, signaling momentum in its shift from bitcoin mining to high-performance computing.
All infrastructure will remain on Canadian soil, aligning with Ottawa’s push to reduce reliance on foreign-controlled AI technology. The deployment is slated to go live between late 2026 and early 2027.