Key facts
- HIVE Digital Technologies secured a $220 million, three-year contract for sovereign AI infrastructure in Canada.
- The deal involves 2,304 Nvidia GB200 NVL72 GPUs and is a partnership with Bell, Cohere, and Hypertec.
- The infrastructure will be deployed at Bell's facility in Merritt, British Columbia, powered by renewable energy.
- HIVE is also acquiring the Big Boden 32-megawatt data center in Sweden for AI workloads.
- The company is transitioning its business model from Bitcoin mining to AI cloud computing and high-performance computing.
HIVE Digital Technologies has announced a significant expansion into AI infrastructure, securing a three-year sovereign cloud infrastructure contract in Canada valued at approximately $220 million. This deal, executed by HIVE's BUZZ High Performance Computing unit, partners with Bell AI Fabric, Cohere, and Hypertec to create a Canadian AI stack for enterprise and government clients.
The infrastructure will feature 2,304 Nvidia GB200 NVL72 GPUs, interconnected with Nvidia Quantum InfiniBand networking and utilizing liquid cooling, deployed at Bell's facility in Merritt, British Columbia. The AI factories are powered by renewable energy and designed for ultra-low power usage effectiveness.
HIVE is funding the acquisition of these systems through proceeds from its April convertible note financing. The company stated that this partnership supports Canada's federal AI strategy by ensuring data remains under Canadian control and by combining domestic connectivity, compute, and AI models. Chairman Frank Holmes expressed his objective to make Canada a leading sovereign AI jurisdiction.
Holmes anticipates the deployment will become operational between late 2026 and early 2027, contributing about $70 million in annual recurring revenue to the company's current $35 million realized ARR. This move signifies HIVE's strategic diversification from its legacy Bitcoin mining business into AI and high-performance computing.
In parallel, HIVE is acquiring the Big Boden 32-megawatt data center in Sweden, which it has operated as a tenant since 2018. The company plans to upgrade this site to Tier III standards to support enterprise-scale AI workloads. HIVE recently reported a 158% year-over-year revenue increase for fiscal 2026, with its HPC business contributing a record $19.5 million.