HIVE secures $220M AI infrastructure contract with Bell and Cohere

The deal is expected to add approximately $70 million in annual recurring revenue as the company scales its AI-focused operations.

Canadian Bitcoin miner HIVE Digital Technologies said its AI subsidiary BUZZ HPC has signed a three-year GPU cloud contract worth approximately $220 million with Bell AI Fabric for AI startup Cohere, expanding the company's push into high-performance computing (HPC) and AI infrastructure.

The agreement calls for BUZZ HPC to deploy 2,304 NVIDIA Grace Blackwell GPUs at a Bell Canada data center in British Columbia, where the infrastructure will support Cohere's artificial intelligence models and services for enterprise and government customers.

After the deployment enters service, HIVE expects the project to contribute about $70 million in contracted annual recurring revenue, increasing its contracted HPC revenue target to more than $100 million, according to the company.

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