HIVE Digital Technologies shares rose more than 7% this Thursday after announcing a massive $220 million AI infrastructure contract. The historic agreement by the Bitcoin miner, channeled through its subsidiary BUZZ High Performance Computing, will provide cloud computing services based on 2,304 NVIDIA Grace Blackwell GPUs to telecom firm Bell Canada and prominent artificial intelligence company Cohere.
This action definitively consolidates HIVE’s commercial pivot, moving from relying exclusively on the volatility of crypto mining to capitalizing on the massive demand for sovereign AI within Canadian territory. The infrastructure will be deployed in a specialized data center in British Columbia to process local and government data securely, reducing the risks brought by the bearish cycles of the traditional crypto market.
As the rollout progresses, HIVE projects it will raise its annual recurring high-performance computing revenue to over $100 million. The next step includes the large-scale construction of a 320-megawatt megadata center in Toronto, designed to host more than 100,000 Nvidia chips by late 2028.
Source: https://goo.su/gBiQG5
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