HIVE’s BUZZ HPC Signs $220 Million GPU Cloud Contract With Bell AI Fabric and Cohere

HIVE Digital Technologies’ BUZZ High Performance Computing Inc. signed a three-year GPU cloud contract worth approximately USD $220 million with Bell AI Fabric and Cohere Inc., announced June 18.

The deal is expected to add about $70 million in contracted annual recurring revenue to BUZZ HPC’s current realized $35 million ARR, pushing total contracted HPC revenue above $100 million.

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HIVE said it procured 2,304 NVIDIA Grace Blackwell GPUs as part of GB200 NVL72 rack-scale systems, interconnected with NVIDIA Quantum InfiniBand networking and using liquid cooling.

The company expects the deployment to go live in late 2026 to early 2027 at Bell’s purpose-built facility in Merritt, British Columbia, with the infrastructure “entirely within Canadian borders.”

HIVE said the arrangement combines Bell Canada’s data-centre facility and national connectivity platform with Cohere’s enterprise AI models and large language model capabilities, while Hive operates the GPU cloud and compute layer.

HIVE CEO Aydin Kilic said, “We are very pleased to announce that our contracted HPC revenue target has surpassed $100m,” and added that the NVIDIA GB200 deployment is expected to go live in late 2026 to early 2027.

In the same announcement, Kilic said the deployment would add approximately contracted $70m ARR to HIVE’s current realized $35m ARR.

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Bell framed the partnership as part of its own AI revenue push, with John Watson, Bell’s group president for business markets, AI and Ateko, saying the deal “provides another important layer to the Bell AI Fabric ecosystem.”

Watson also said such partnerships are “instrumental to BCE Inc. delivering on our ambition to grow our revenue from AI-powered solutions to $2 billion by 2028.”

Blockspace Media described BUZZ HPC’s existing Manitoba footprint as a live 504 NVIDIA B200 GPU cluster that accounts for BUZZ’s existing $35 million realized ARR, and said the Merritt deployment builds on work already underway.

HIVE said it is funding the Blackwell systems using a portion of the proceeds from its April 2026 convertible note financing, described as a $115 million private offering of 0% exchangeable senior notes due 2031.

“HIVE Digital Technologies (NASDAQ: HIVE) subsidiary BUZZ High Performance Computing Inc”

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The company said Hypertec, a Canadian OEM, is handling hardware procurement, system integration, installation, commissioning, and ongoing support for the Merritt deployment.

PR Newswire said Bell will provide data centre capacity and connectivity services from its Merritt, British Columbia facility, while BUZZ HPC will deliver the AI-native cloud layer using Hypertec’s Canadian-built hardware cluster and NVIDIA accelerated computing.

PR Newswire also quoted Michel Richer, President of Bell AI Fabric, saying, “This landmark deal helps close that gap,” and described Cohere operating its AI models in Bell AI Fabric infrastructure.

CoinDesk reported that all infrastructure will remain on Canadian soil and that the deployment is expected to be operational between late 2026 and early 2027, adding about $70 million in annual recurring revenue (ARR) to roughly $35 million currently realized.