HIVE Digital Technologies (NASDAQ: HIVE), through its subsidiary BUZZ High Performance Computing Inc., has executed a three-year GPU cloud contract valued at approximately $220 million with Bell Canada (NYSE: BCE) and Cohere Inc., according to a company statement.

Under the agreement, BUZZ HPC will deploy 2,304 Nvidia Grace Blackwell GPUs as part of Nvidia GB200 NVL72 rack-scale systems at Bell's facility in Merritt, British Columbia. The infrastructure will use Nvidia Quantum InfiniBand networking, built to Nvidia reference architecture standards with advanced liquid cooling.

Cohere will operate its foundation models and enterprise AI solutions on the compute infrastructure, serving government and corporate customers across Canada. Canadian hardware firm Hypertec will supply the GPU server hardware, handling procurement, integration, installation, and commissioning.

HIVE is funding the Nvidia hardware purchase using proceeds from a $115 million convertible note financing completed in April 2026. The company said its contracted high-performance computing revenue has surpassed $100 million, with the GB200 deployment expected to go live in late 2026 to early 2027, adding approximately $70 million in annual recurring revenue to its current $35 million.

President and CEO Aydin Kilic said the deployment "brings together Canadian connectivity and compute, in Canadian data centres, running Canadian AI foundational models."

The compute infrastructure will remain within Canadian borders and operate under Canadian standards. BUZZ HPC's facilities are powered by renewable energy and engineered for low power usage effectiveness.