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

Odaily Planet Daily News Bitcoin mining company HIVE's BUZZ High Performance Computing has signed a three-year, approximately $220 million sovereign AI cloud infrastructure contract with Bell AI Fabric and Cohere. According to 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 the $115 million convertible note financing completed in April. The deployment is expected to be operational from late 2026 to early 2027, at which point it will 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)