Bitcoin miner HIVE signs $220 million AI GPU contract with Bell, expected to increase annual revenue by $70 million

Odaily reported that BUZZ High Performance Computing, a subsidiary of Bitcoin miner HIVE, has signed a three-year sovereign AI cloud infrastructure contract valued at approximately $220 million with Bell AI Fabric and Cohere. Under the contract, BUZZ HPC will deploy a cluster containing 2,304 Nvidia Grace Blackwell GPUs at Bell's facility in Merritt, British Columbia.

The funding for this batch of Blackwell systems comes from a $115 million convertible note financing completed in April. The deployment is expected to be operational between late 2026 and early 2027, and is projected to add approximately $70 million to the company's current $35 million in annual recurring revenue. Additionally, HIVE has received approval to acquire a 32-megawatt data center in Big Boden, Sweden, and plans to upgrade it to support enterprise-level AI workloads. (The Block)