Hive gains 10% after securing Canada sovereign AI contract with Bell Canada
GPU cloud contract with Bell and Cohere strengthens HIVE's shift from bitcoin mining to high performance AI computing.
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GPU cloud contract with Bell and Cohere strengthens HIVE's shift from bitcoin mining to high performance AI computing.
Hive gains 10% after securing Canada sovereign AI contract with Bell Canada
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Hive shares jumps 10% on $220m Canada sovereign AI infrastructure deal
GPU cloud contract with Bell and Cohere strengthens HIVE's shift from bitcoin mining to high performance AI computing.
By
James Van Straten
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Edited by
Jamie Crawley
Jun 18, 2026, 11:49 a.m.
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The $220 million deal will see HIVE provide sovereign AI computing infrastructure in Canada through a deployment of more than 2,300 Nvidia GPUs.
The agreement is expected to add roughly $70 million in annual recurring revenue, pushing HIVE's contracted HPC revenue above $100 million.
HIVE Digital Technologies (HIVE) shares jumped 10% in pre-market trading on Thursday after the company
announced a $220 million
, three-year GPU cloud contract with Bell Canada and AI firm Cohere, as the company continues its transition away from pure-play bitcoin mining.
The deal will see HIVE's BUZZ High Performance Computing unit deploy 2,304 Nvidia Grace Blackwell GPUs at Bell's AI Fabric facility in Merritt, British Columbia, forming the dedicated compute layer for Cohere's enterprise AI models serving Canadian government and corporate clients.
All infrastructure will remain on Canadian soil, supporting Ottawa's broader push to
reduce reliance on foreign-controlled AI technology.
The deployment is expected to go live from late 2026 to early 2027, adding roughly $70 million in annual recurring revenue (ARR). Combined with approximately $35 million of current realised ARR, HIVE's contracted HPC revenue target now exceeds $100 million, a clear signal that its infrastructure pivot is gaining serious commercial momentum.
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CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
By
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Jun 15, 2026
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
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In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
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