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HIVE says Bell and Cohere GPU cloud contract supports AI computing shift

HIVE says Bell and Cohere GPU cloud contract supports AI computing shift

A three-year sovereign AI infrastructure agreement worth about $220 million includes deployment of 2,304 NVIDIA GB200 GPUs and implies roughly $70 million in annual recurring revenue.

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Fact Check
The official HIVE/BUZZ HPC designated news release confirms all specific elements of the claim: a three-year, USD $220 million sovereign AI GPU cloud contract with Bell and Cohere, featuring 2,304 NVIDIA Grace Blackwell GPUs in a GB200 NVL72 rack-scale system at Bell's Merritt, British Columbia facility, explicitly tied to HIVE's pivot toward AI/HPC computing. CoinDesk independently corroborates the deal value, partners, sovereign-AI framing, and the AI-computing shift. The minor characterization difference (CoinDesk's mention of the 'Canadian government' versus the release's 'Canadian enterprise and government customers') does not affect the core facts in the claim.
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Summary

HIVE Digital Technologies said its wholly owned subsidiary BUZZ High Performance Computing signed a roughly $220 million, three-year GPU cloud contract with Bell Canada and Cohere, extending the company’s push from bitcoin mining into high-performance AI computing. The agreement covers deployment of 2,304 NVIDIA GB200 GPUs over three years, implies about $70 million in annual recurring revenue, and lifts BUZZ HPC’s backlog above $100 million. HIVE has tied the project to sovereign AI infrastructure, underscoring demand for domestic AI computing capacity and services.

Terms & Concepts
  • sovereign AI infrastructure: Domestic AI computing capacity designed to keep critical processing and data control within a country’s own jurisdiction.
  • GPU cloud contract: An agreement to provide access to graphics-processing hardware through cloud-based computing services for intensive workloads such as AI.
  • annual recurring revenue: A metric used to estimate predictable revenue a company expects to generate each year from ongoing contracts.