Hive shares jump 10% on $220m Canada sovereign AI infrastructure deal
2026-06-18 11:52:12
HIVE Digital Technologies (HIVE) shares rose 10% in pre-market trading after it announced a $220 million, three-year GPU cloud contract with Bell Canada and AI firm Cohere, according to CoinDesk, as it shifts away from pure-play bitcoin mining. HIVE’s BUZZ High Performance Computing unit will deploy 2,304 Nvidia Grace Blackwell GPUs at Bell’s AI Fabric facility in Merritt, British Columbia, to support Cohere’s enterprise AI models for Canadian government and corporate clients. The rollout is expected to go live from late 2026 to early 2027 and add about $70 million in annual recurring revenue.
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