HIVE Digital Technologies has secured a $220 million AI contract with Bell Canada to provide 2,304 GB200s over three years, significantly boosting its revenue by approximately $70 million in annual recurring revenue (ARR) by late 2026 or early 2027. This partnership aligns with a growing trend among telecom providers, who are collaborating with specialized high-performance computing (HPC) operators to establish large-scale GPU clusters essential for enterprise AI applications, while also adhering to the Canadian focus on maintaining domestic AI infrastructure. Funding for this project will be sourced from proceeds of a previous $115 million convertible financing completed in April.
Bell Canada: Bell Canada is a leading Canadian telecommunications provider expanding its operations into advanced AI infrastructure via the Bell AI Fabric network of data centers. The company prioritizes domestic, sovereign AI capabilities to serve enterprise, government, and research clients with secure, localized compute resources. It is the primary client in the recent agreement for HIVE’s AI GPU deployment to support Cohere’s models.
HIVE Digital Technologies: HIVE Digital Technologies is a company focused on digital infrastructure, operating high-performance computing facilities that support both cryptocurrency mining and AI workloads through its subsidiary BUZZ HPC. It emphasizes sovereign and green energy solutions for advanced compute tasks. The company is directly involved in the reported contract as the provider of GPU infrastructure for Bell Canada’s AI initiative with Cohere.
AI Compute Partnerships: Telecom providers are forming alliances with specialized HPC operators to deliver large-scale GPU clusters for enterprise AI applications.
Sovereign AI Infrastructure: Canadian telecom and tech firms are prioritizing domestic AI compute networks to keep data and models within national borders.
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