HIVE Digital secures $220M cloud deal to accelerate AI transition

The contract centers on the deployment of 2,304 Nvidia Grace Blackwell GPUs at Bell’s AI Fabric facility in Merritt, British Columbia. HIVE’s BUZZ High Performance Computing division will manage the compute layer, while Hypertec handles the domestic hardware supply. By keeping infrastructure on Canadian soil, the project aligns with growing national demand for local data control and secure AI development for government and enterprise clients.

Projected to launch between late 2026 and early 2027, the deal is expected to generate approximately $70 million in annual recurring revenue. This influx pushes HIVE’s contracted high-performance computing revenue target past the $100 million threshold. The move underscores a broader industry trend where Bitcoin miners leverage existing power contracts, cooling systems, and data center capacity to transition into the high-demand AI sector. With fiscal 2026 computing revenue already up 94%, HIVE is positioning itself to capitalize on this shift, backed by a broader strategy that includes a proposed 320-megawatt AI "super factory" in Toronto.