Key insights
- HIVE Digital Technologies announced a significant $220 million GPU cloud contract with Bell Canada and Cohere, and the acquisition of a 32 MW data center in Sweden. The deal involves deploying NVIDIA's latest GPUs, expected to generate substantial recurring revenue. This news boosts HIVE's stock and highlights strong demand for AI infrastructure, potentially benefiting related technology and semiconductor companies.
Investing.com -- HIVE Digital Technologies Ltd. (NASDAQ:HIVE) shares jumped 11.8% in premarket trading Thursday following the announcement of a $220 million GPU cloud contract and the acquisition of a 32 MW data center in Sweden.
HIVE’s wholly owned subsidiary BUZZ High Performance Computing Inc. signed a three-year GPU cloud contract valued at approximately $220 million with Bell Canada (TSX:BCE) (NYSE:BCE) and Cohere Inc. The deal brings together Bell AI Fabric’s national data center platform, Cohere’s enterprise AI solutions, and BUZZ HPC’s NVIDIA-accelerated GPU cloud infrastructure.
BUZZ HPC has procured NVIDIA AI infrastructure powered by 2,304 NVIDIA Grace Blackwell GPUs as part of NVIDIA GB200 NVL72 rack-scale systems. The deployment will take place at Bell’s facility in Merritt, British Columbia, and is expected to go live in late 2026 to early 2027.
The company stated that its contracted HPC revenue target has surpassed $100 million. The NVIDIA GB200 deployment is expected to add approximately $70 million in annual recurring revenue to the current realized $35 million ARR.
HIVE is funding the NVIDIA Grace Blackwell systems purchase using proceeds from its $115 million convertible note financing completed in April 2026.
Separately, HIVE announced that the Boden Municipal Council approved the company’s acquisition of the Big Boden 32 MW data center from Bodens Utvecklings AB in Sweden. HIVE has operated at the facility since 2018 and will transition from tenant to owner. The company has invested more than 960 million SEK (approximately $100 million) in the Boden region over eight years and paid more than 575 million SEK (over $60 million) in taxes.
The acquisition remains subject to customary closing conditions.
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