Key Highlights
- HIVE Digital stock surged 11.8% during Thursday’s premarket session following news of a $220M GPU cloud partnership
- The multi-year agreement involves Bell Canada and AI company Cohere, featuring deployment of 2,304 NVIDIA Grace Blackwell GPUs
- Hardware will be installed at Bell’s British Columbia facility in Merritt, with operations beginning between late 2026 and early 2027
- The partnership contributes approximately $70M in yearly recurring revenue; total contracted HPC revenue now tops $100M
- HIVE additionally completed acquisition of its 32 MW Boden, Sweden data center, converting from renter to property owner after eight years
HIVE Digital Technologies (HIVE) stock experienced a substantial premarket rally Thursday, climbing almost 12% as the company simultaneously unveiled two significant business developments.
HIVE Digital Technologies Ltd., HIVE
Shares were hovering near $3.97 ahead of the announcements. Before Thursday’s session, HIVE had already delivered impressive returns, advancing 125% during the preceding twelve months.
The primary catalyst emerged from BUZZ High Performance Computing Inc., HIVE’s fully owned subsidiary, which finalized a multi-year GPU cloud partnership valued at roughly $220 million alongside Bell Canada and artificial intelligence firm Cohere.
The arrangement combines Bell AI Fabric’s nationwide data center infrastructure, Cohere’s commercial AI technology, and BUZZ HPC’s NVIDIA-powered GPU cloud capabilities.
BUZZ HPC has secured 2,304 NVIDIA Grace Blackwell GPUs, organized within NVIDIA GB200 NVL72 rack-scale configurations. This represents a substantial deployment of NVIDIA’s cutting-edge computing technology.
The entire infrastructure will be housed at Bell’s British Columbia location in Merritt. Operations are scheduled to commence somewhere between late 2026 and the beginning of 2027.
The processing power will support Cohere’s commercial AI platforms, currently utilized by Canada’s federal agencies and business customers. All equipment remains within Canadian borders.
Financial Implications
The upcoming NVIDIA GB200 installation is projected to generate approximately $70 million in yearly recurring revenue. With HIVE currently generating $35 million in ARR, this agreement would effectively triple that amount.
HIVE’s total contracted HPC revenue objective has now crossed the $100 million threshold, demonstrating the company’s successful transformation beyond its original Bitcoin mining operations.
HIVE is financing the NVIDIA Grace Blackwell hardware acquisition through capital raised from its $115 million convertible note offering finalized in April 2026.
The partnership with Bell and Cohere represents the strongest indication to date that HIVE’s strategic pivot from cryptocurrency mining to data center services is producing tangible results.
Swedish Property Acquisition
In a separate development, the Boden Municipal Council granted approval for HIVE’s purchase of the Big Boden 32 MW data center facility from Bodens Utvecklings AB located in Sweden.
HIVE has maintained operations at the Boden location since 2018. Through this transaction, the company transitions from lessee to property owner.
The organization has committed over 960 million SEK — roughly $100 million — to the Boden area throughout eight years. Additionally, it has contributed more than 575 million SEK, exceeding $60 million, in municipal taxes during this period.
Direct ownership of the property provides HIVE with enhanced operational control over a location that has served as a cornerstone of its business for close to ten years.
Both announcements — a substantial North American AI partnership and a European data center purchase — arrived simultaneously, providing significant material for market participants to evaluate.
HIVE’s total contracted HPC revenue has now surpassed $100 million, with the Bell Canada and Cohere GPU infrastructure scheduled for operational launch in late 2026 or the first quarter of 2027.
