HIVE Digital Secures $220M Sovereign AI GPU Deal With Bell Canada
HIVE Digital’s BUZZ HPC subsidiary signed a three-year sovereign AI GPU cloud contract worth about $220 million with Bell AI Fabric and Cohere. The deal uses 2,304 NVIDIA Grace Blackwell GPUs and is expected to generate roughly $70 million in annual recurring revenue once fully deployed. It marks a further move away from HIVE’s roots as a Bitcoin miner and deeper into AI infrastructure and high-performance computing. The agreement is strategically important because miners are looking to use existing power, cooling, facilities, and operations to support more stable enterprise revenue streams as post-halving mining economics tighten. The Canadian setup also fits a broader “sovereign AI” push, keeping compute, connectivity, and model development within domestic infrastructure. The main risk is execution: GPU deployment, uptime, customer concentration, and capital intensity will determine whether the deal translates into durable profits.
