HIVE Digital Technologies Secures $220M GPU Cloud Deal as Bitcoin Miner Pivots to AI

HIVE Stock Spikes as Bitcoin Miner Lands $220M AI Infra Deal

HIVE stock climbed more than 7% on the TSX Thursday, as the company advances its long-running pivot from Bitcoin mining to AI infrastructure. HIVE Digital Technologies stock climbed more than 7% on Thursday after the company announced a $220 million GPU cloud contract with Bell Canada and Toronto-based AI firm Cohere -- its biggest deal yet and the clearest sign to date that the Bitcoin miner is now firmly in the AI infrastructure business. The contract runs three years and is delivered through HIVE's subsidiary, BUZZ High Performance Computing. It involves 2,304 NVIDIA Grace Blackwell GPUs -- chips designed for frontier AI model training and inference -- installed at Bell's purpose-built data center in Merritt, British Columbia. Cohere, a large language model company that builds AI systems for enterprises and governments, will use that compute layer to run its platform for Canadian clients. The term "sovereign AI" gets thrown around a lot. In plain terms, it means AI that runs on infrastructure inside your country's borders, on locally controlled data -- which matters a lot when the clients are government agencies. Canada has pushed hard on this, with Ottawa committing over $2 billion to domestic AI compute as part of its Sovereign AI Compute Strategy and putting $240 million directly into Cohere. This deal is the physical layer of that bet. Cohere is a fitting anchor for the arrangement. The Toronto company is one of the few anywhere building foundation models -- the base-layer AI that powers enterprise chatbots, government document processing, and everything in between -- and recently announced a merger with Germany's Aleph Alpha that values the combined company at roughly $20 billion. Bell and Cohere had an existing partnership dating to July 2025; this contract is the compute infrastructure underneath it. "Canada helped pioneer modern artificial intelligence. What we have lacked is not talent, it is industrial infrastructure to commercialize that talent at scale before others do it for us," Frank Holmes, executive chairman at HIVE Digital Technologies, said in a statement. "This partnership with Bell and Cohere is a defining moment. BUZZ HPC is the GPU factory layer that transforms Canada's AI ambitions from political promises into productive national assets" For HIVE, which reported $278.3M Bitcoin mining revenue in its last quarter, this is the latest chapter in a pivot underway since 2022. The company began its AI shift by redirecting GPU capacity from crypto mining, landing a deal with Dell for new GPUs last November and closing a $115 million convertible note offering in April to fund hardware purchases. It's not alone: Keel Infrastructure, formerly Bitfarms, sold off its last Paraguay mining facility in April and is running the same playbook. Crypto mining returns are volatile and get harder as more miners compete for block rewards. Things get even harder during crypto winters, downturns in the market, as rewards become increasingly less attractive as the price of crypto assets go down but costs stay the same or go up. On the opposite side, AI compute demand is growing fast and clients -- especially government agencies -- sign multi-year contracts at locked-in rates. Trading one bubble for another, maybe, but at least this one has a government mandate behind it. Once the deployment goes live -- expected between late 2026 and early 2027 -- HIVE expects roughly $70 million in new annual recurring revenue on top of the $35 million it already books from existing GPU operations. Its contracted HPC revenue target now exceeds $100 million. The company also has a larger project in the works: a 320-megawatt AI data center in the Greater Toronto Area designed to house more than 100,000 Nvidia GPUs at full build-out. HIVE expects the facility to generate roughly $360 million in annualized recurring revenue at full operation and has set a broader target of $660 million in annualized HPC revenue by the end of 2028.

HIVE Signs $220M GPU Cloud Contract for Cohere AI Workloads

The deal is expected to add approximately $70 million in annual recurring revenue as the company scales its AI-focused operations. Canadian Bitcoin miner HIVE Digital Technologies said its AI subsidiary BUZZ HPC has signed a three-year GPU cloud contract worth approximately $220 million with Bell AI Fabric for AI startup Cohere, expanding the company's push into high-performance computing (HPC) and AI infrastructure. The agreement calls for BUZZ HPC to deploy 2,304 NVIDIA Grace Blackwell GPUs at a Bell Canada data center in British Columbia, where the infrastructure will support Cohere's artificial intelligence models and services for enterprise and government customers. After the deployment enters service, HIVE expects the project to contribute about $70 million in contracted annual recurring revenue, increasing its contracted HPC revenue target to more than $100 million, according to the company. HIVE said it will fund the purchase of the AI infrastructure using a portion of the proceeds from the $115 million convertible note financing it completed in April. The company's stock price was up around 9% at the time of writing and almost 24% in the past month, according to Yahoo Finance data. Sector tracking exchange-traded fund CoinShares Bitcoin Mining ETF (WGMI) was up 5.4% on the day, and up more than 30% in the past month. HIVE stock is the fund's eighth-biggest holding. Source: Yahoo Finance HIVE grows AI business as Bitcoin holdings decline The deal is the latest move in HIVE's broader expansion into AI infrastructure. In May, the company said its BUZZ HPC subsidiary planned a 320-megawatt AI data center campus near Toronto, capable of supporting more than 100,000 GPUs. Earlier this month, HIVE reported that revenue from its HPC division increased to $19.5 million in fiscal 2026, nearly doubling from a year earlier. The company also said contracted annual recurring revenue from the business reached $35 million, supported by deployments of Nvidia-powered GPU clusters and new enterprise contracts. HIVE also reported a decline in its Bitcoin (BTC) treasury holdings, which fell to 150 BTC from 481 BTC a quarter earlier. Source: BitcoinTreasuries.NET Hashrate declines as AI investments grow On Thursday, The Energy Mag (formerly The Miner Mag) noted that Bitcoin mining difficulty, a measure of how hard it is for miners to produce new blocks, fell 10.09% on June 14, one of the largest downward adjustments in the network's history. The publication attributed the decline to weaker mining economics, Bitcoin's price decline, seasonal power curtailment in Texas and broader power-market dynamics. It also argued that miners dedicating power to AI and HPC projects could alter future hashrate growth by reducing the amount of capacity available for Bitcoin mining. Bitcoin mining difficulty. Source: Coinwarz.com The decline came days after Cointelegraph reported that Bitcoin mining profitability had fallen to record lows, making it harder for some operators to remain profitable. Meanwhile, miners continue expanding into AI and high-performance computing. On Tuesday, IREN completed its acquisition of Spanish data center developer Nostrum Group, while TeraWulf recently added a Kentucky development site that it said could eventually support more than 1 gigawatt of AI and HPC capacity.

HIVE Stock Surges After Groundbreaking AI Project In Paraguay - HIVE Digital Technologies (NASDAQ:HIVE)

* HIVE Digital Technologies shares are climbing with conviction. Why is HIVE stock up today? Columbia University Research Highlights Strength Of HIVE's GPU Platform HIVE reported that its GPU cluster in Asunción supported its first academic research project through a collaboration with the Department of Industrial Engineering and Operations Research at Columbia University in New York. The work has been submitted to NeurIPS, which is considered one of the three most influential global conferences in machine learning and AI, alongside ICLR and ICML. HIVE Stock: Key Levels And Momentum Indicators HIVE continues to trade well above its major trend markers. The stock sits 18.9% above the 20 day simple moving average at $4.17, 50.6% above the 50 day simple moving average at $3.29 and 49.1% above the 200 day simple moving average at $3.32. That wide separation shows a strong intermediate trend, but it also signals that the stock is stretched, which can increase the risk of sharp pullbacks if momentum cools. The moving average structure is not fully aligned. The 20 day average is above the 50 day average, which supports near term strength, but the stock still carries the death cross from February when the 50 day average slipped below the 200 day average. In practice, the current price action shows that the recent uptrend is overpowering that older bearish signal. Momentum is best viewed through RSI because HIVE has already shown it can become overheated. RSI pushed into overbought territory in May, and readings in that zone often lead to fast swings in both directions. Traders use RSI as a gauge of how stretched a move has become after a rapid run. * Key Support: $4.50 A nearby level where buyers stepped in previously, sitting close to the lower boundary of the recent range and offering a reference point for dip buyers. HIVE Shares Are Flying HIVE Price Action: HIVE Digital shares were up 17.61% at $5.01 at the time of publication on Monday, according to Benzinga Pro. Image: Shutterstock Market News and Data brought to you by Benzinga APIs To add Benzinga News as your preferred source on Google, click here.

HIVE's Paraguay GPUs Match H100 Performance in AI Research, Boosting Share Price

Bitcoin miners moved toward cleaner energy after public pressure. AI data centers are scaling faster, with less clarity over how clean their power really is. | Credit: CCN. * HIVE's Nvidia A40 GPUs in Paraguay matched the performance observed on newer H100 systems for their large-language-model pretraining research. * Researchers based in New York successfully trained AI models using GPUs located more than 5,000 miles away in Paraguay. * The research provides an important proof point for HIVE's planned 100-MW AI and high-performance computing campus in Paraguay. Cryptocurrency miner and digital infrastructure company HIVE Digital Technologies said a research project conducted with Columbia University found that its older-generation Nvidia A40 graphics processors in Paraguay delivered performance comparable to Nvidia's flagship H100 chips for a specific artificial intelligence training workload, underscoring the growing importance of software optimization in AI computing. The study, conducted by researchers from Columbia University's Department of Industrial Engineering and Operations Research, involved training large language models remotely on HIVE's GPU cluster in Asuncion, Paraguay, while the research team operated from New York. The findings have been submitted to the Neural Information Processing Systems (NeurIPS) conference, one of the world's leading academic gatherings for machine learning and artificial intelligence research. According to the researchers, the team spent two months optimizing code for HIVE's A40 processors and testing neural network pretraining workloads involving language models with up to 1.4 billion parameters. After adjusting for each platform's raw hardware capabilities, the performance achieved on the A40 systems matched that observed on Nvidia's more advanced H100 processors. "In our use case of pretraining LLMs of up to 1.4B parameters, our results match those of H100s after normalizing for each hardware's raw performance," a Columbia researcher said. The researchers said the work focused on developing and analyzing new optimization techniques for neural network pretraining, a critical stage in building large language models. Intercontinental AI Training Demonstrated The project represents an early demonstration of what HIVE describes as intercontinental AI training, with computing resources located more than 5,000 miles (8,000 km) from the researchers using them. The successful deployment suggests AI developers may be able to access compute resources globally without significant performance penalties, potentially broadening the range of locations suitable for advanced AI infrastructure. "This proof-of-concept is an important step in HIVE's mission to help bring advanced AI computing infrastructure to Paraguay," HIVE Executive Chairman and co-founder Frank Holmes said. Holmes added that the experiment showed high-performance computing does not need to be concentrated exclusively in traditional technology hubs, particularly as demand for AI infrastructure accelerates worldwide. Paraguay Becomes Strategic AI Hub The research also provides a benchmark for HIVE's planned expansion in Paraguay, where the company is developing a 100-megawatt substation in Yguazu to support a future AI and high-performance computing campus. Civil construction on the substation has been completed, with energization expected later this year. HIVE plans to begin construction of a Tier III data center in late 2026, targeting commercial operations in the second half of 2027. Paraguay has increasingly attracted attention from data center operators and Bitcoin miners because of its abundant hydroelectric power, much of it generated by the Itaipu Dam, one of the world's largest hydroelectric facilities. "The greatest natural resource for AI isn't oil or lithium. It's renewable electricity. HIVE has been pioneering how to transform hydro power into intelligence from Canada to Sweden to Paraguay," Holmes told CCN. Bitcoin Miner Expands Beyond Crypto HIVE built its business as a Bitcoin miner powered largely by renewable energy, operating facilities across Canada, Sweden, and Paraguay. Like many mining companies facing increased competition and volatile cryptocurrency markets, HIVE has expanded into high-performance computing and AI services to diversify its revenue streams. The company's strategy mirrors a broader industry trend as Bitcoin miners seek to capitalize on booming demand for AI infrastructure. Investors have increasingly rewarded companies capable of repurposing power-rich data centers and GPU assets for artificial intelligence workloads. While Nvidia's H100 remains the gold standard for AI training, the Columbia research highlights how software and algorithmic improvements can significantly improve the efficiency of older hardware, potentially lowering the cost of AI development. HIVE Shares Surge as Investors Embrace AI Expansion HIVE Digital Technologies shares surged more than 22% on June 22, briefly trading above $7 on Nasdaq, after the company unveiled new results highlighting the capabilities of its Paraguay-based AI infrastructure. The June 22 surge to above $7 needs to be read against where the stock has been. HIVE's 52-week range runs from a low of $1.60 to a high of $10.96, with the average price over the trailing 52 weeks sitting around $3.10 according to Macrotrends data. The stock delivered roughly 89% year-on-year gains over the past year, though it remains well off its all-time high of $28.00 recorded in November 2021. The average daily trading volume is approximately 5.3 million shares. On the fundamentals, HIVE reported fiscal year 2026 revenue of $297.79 million, up 158% from $115.28 million in the prior year, driven by a fourfold jump in Bitcoin mining capacity and the early contribution of its AI infrastructure business. The company recorded a net loss of $148.45 million for the same period, partly due to depreciation on a rapidly expanding asset base. HIVE reported fiscal 2026 revenue of $297.8 million, up 158% year-over-year, while its BUZZ HPC division nearly doubled revenue to $19.5 million and grew contracted annual recurring revenue to $35 million, underscoring the growing contribution of its AI business. The company also announced the acquisition of a 32 MW data center in Boden, Sweden, deepening what it described as an eight-year community partnership in northern Sweden. Riley raised its price target on HIVE to $8 from $5 following the Q4 earnings report, keeping a Buy rating. Rosenblatt raised its target to $5.50 from $5, also maintaining a Buy. Northland Securities similarly reiterated a Buy rating. What the Market Is Pricing HIVE is structurally positioned between two volatile sectors: Bitcoin mining, which generates near-term cash flow but is hostage to BTC price cycles, and AI infrastructure, which carries heavy upfront capital costs against longer-term contracted revenue. The Columbia validation matters because it answers a specific question: can older GPU hardware in an emerging-market jurisdiction compete on performance with the latest Nvidia silicon? If the NeurIPS submission is accepted, that answer becomes peer-reviewed rather than proprietary. The stock's move on June 22 suggests the market is beginning to price the AI infrastructure thesis more seriously. Whether the share price holds above $7 will depend on how quickly the Paraguay substation comes online and whether the BUZZ HPC contracted revenue converts into reported EBITDA. Growing Importance of Power in the AI Race The findings arrive as access to electricity has emerged as one of the biggest constraints on AI expansion. Technology companies, cloud providers, and AI developers are racing to secure power supplies for increasingly energy-intensive computing workloads. That trend has fueled growing convergence between Bitcoin mining operators, renewable-energy developers, and AI infrastructure providers, all competing for locations with abundant, low-cost electricity. For HIVE, the Columbia project offers more than academic validation. It provides an early proof point that its Paraguay operations could evolve from a Bitcoin mining base into a globally connected AI computing platform, positioning the company to participate in one of the fastest-growing segments of the technology industry.

HIVE Digital stock surges on $220M GPU cloud deal By Investing.com

Investing.com -- HIVE Digital Technologies Ltd. (NASDAQ:HIVE) shares jumped 11.8% in premarket trading Thursday following the announcement of a $220 million GPU cloud contract and the acquisition of a 32 MW data center in Sweden. HIVE's wholly owned subsidiary BUZZ High Performance Computing Inc. signed a three-year GPU cloud contract valued at approximately $220 million with Bell Canada (TSX:BCE) (NYSE:BCE) and Cohere Inc. The deal brings together Bell AI Fabric's national data center platform, Cohere's enterprise AI solutions, and BUZZ HPC's NVIDIA-accelerated GPU cloud infrastructure. BUZZ HPC has procured NVIDIA AI infrastructure powered by 2,304 NVIDIA Grace Blackwell GPUs as part of NVIDIA GB200 NVL72 rack-scale systems. The deployment will take place at Bell's facility in Merritt, British Columbia, and is expected to go live in late 2026 to early 2027. The company stated that its contracted HPC revenue target has surpassed $100 million. The NVIDIA GB200 deployment is expected to add approximately $70 million in annual recurring revenue to the current realized $35 million ARR. HIVE is funding the NVIDIA Grace Blackwell systems purchase using proceeds from its $115 million convertible note financing completed in April 2026. Separately, HIVE announced that the Boden Municipal Council approved the company's acquisition of the Big Boden 32 MW data center from Bodens Utvecklings AB in Sweden. HIVE has operated at the facility since 2018 and will transition from tenant to owner. The company has invested more than 960 million SEK (approximately $100 million) in the Boden region over eight years and paid more than 575 million SEK (over $60 million) in taxes. The acquisition remains subject to customary closing conditions. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.