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.
By James Van Straten|Edited by Jamie Crawley
Jun 18, 2026, 11:49 a.m.
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Summary
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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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.
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.
Why it matters:
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.