HIVE Digital secures $220M AI GPU contract, acquires 32 MW data center
HIVE Digital Technologies Ltd. announced a significant $220 million sovereign AI GPU contract through its subsidiary BUZZ HPC with Bell Canada and Cohere Inc., involving the deployment of 2,304 NVIDIA Grace Blackwell GPUs, expected to add $70 million in annual recurring revenue. Concurrently, HIVE is acquiring a 32 MW data center in Boden, Sweden, solidifying an eight-year partnership and investing over $100 million USD in the region. The company also reported that a Columbia University study validated the performance of its A40 GPUs in Paraguay, matching H100s in specific AI workloads, and provided an update on its 100 MW substation and new Tier-III data center construction in Yguazú, Paraguay. Additionally, HIVE amended its Equity Distribution Agreement, allowing it to sell up to $300 million in common stock.
Key Highlights
- BUZZ HPC secured a $220 million AI GPU contract with Bell and Cohere.
- The contract involves deploying 2,304 NVIDIA Grace Blackwell GPUs.
- This deal is expected to add $70 million in annual recurring revenue (ARR).
- HIVE Digital will acquire a 32 MW data center in Boden, Sweden.
- HIVE has invested over $100 million USD in the Boden region over 8 years.
- Columbia University study validated HIVE's A40 GPUs in Paraguay.
- Paraguay's 100 MW substation is expected to be energized by September 2026.
- Amended ATM offering allows sale of up to $300 million in common stock.
Price Impact
More from HIVE