HIVE Digital Technologies has signed a three-year, $220 million deal with Bell Canada and Cohere to deploy 2,304 NVIDIA GB200 GPUs. This agreement is anticipated to yield about $70 million in annual recurring revenue. The contract signifies a major shift for HIVE, moving away from Bitcoin mining towards establishing itself in the AI infrastructure sector.
HIVE Digital Technologies, through its subsidiary BUZZ HPC, has finalized a substantial three-year contract valued at $220 million with Bell Canada and AI company Cohere. This agreement focuses on the deployment of 2,304 NVIDIA GB200 GPUs. The deployment is expected to generate approximately $70 million in annual recurring revenue for HIVE Digital. This strategic move represents a significant pivot for HIVE, transitioning its business model from Bitcoin mining to the burgeoning field of AI infrastructure. The company is positioning itself to capitalize on the increasing demand for high-performance computing resources required for artificial intelligence development and deployment.