HIVE Digital’s BUZZ HPC unit has signed a three-year GPU cloud contract valued at roughly $220 million with Bell Canada and Cohere, the companies announced, marking a major push into Canadian sovereign AI infrastructure. The deal pairs the telecom giant and the AI startup with HIVE’s high-performance computing arm to deliver cloud-based GPU resources designed to keep sensitive AI workloads and data within Canada’s borders. Separately, HIVE Digital received approval to acquire a 32-megawatt facility in Sweden, part of its broader expansion into AI data centers.
A $220M Sovereign AI Contract
The contract, which runs for three years, will see BUZZ HPC provide GPU cloud services to Bell Canada and Cohere. The deal is specifically aimed at supporting what the parties describe as Canadian sovereign AI infrastructure — meaning the computing power and data storage will remain under Canadian control, addressing growing concerns about data sovereignty and national security in the age of artificial intelligence. Cohere, a Toronto-based AI company known for its large language models, and Bell Canada, one of the country’s largest telecommunications providers, are pooling their resources to build a homegrown AI capacity that doesn’t rely on foreign cloud providers.
HIVE Digital, best known as a Bitcoin miner that has been pivoting toward high-performance computing, now positions its BUZZ HPC unit as a key player in the sovereign AI space. The $220 million figure represents a significant revenue stream for the company, which has been investing heavily in GPU clusters and data center infrastructure. The contract is one of the largest public deals of its kind for a company that started in cryptocurrency mining.
Swedish Facility Acquisition
On the same day, HIVE Digital announced it had received regulatory approval to acquire a 32-megawatt facility in Sweden. The site will be used to expand the company’s AI data center footprint in Europe. HIVE already operates several data centers in Canada, Iceland, and Sweden, and the new facility adds capacity for GPU compute workloads that serve both the BUZZ HPC cloud business and potential future contracts.
The Swedish facility acquisition is part of HIVE’s strategy to diversify away from pure cryptocurrency mining and into the more stable, high-margin business of renting out computing power for AI training and inference. The company has been retrofitting existing mining sites to accommodate GPU servers, and the 32-megawatt facility in Sweden will likely follow the same playbook.
Both announcements came without a formal press conference or investor call, but the details were released via corporate statements. HIVE Digital did not specify when the Swedish acquisition would close or when the GPU cloud contract would begin generating revenue, though the three-year timeline suggests an immediate start.
