HIVE Secures $220M AI Contract, Acquires Data Center, and Expands Global AI Infrastructure
Summary
HIVE Digital announced a major $220 million AI infrastructure contract, acquired a strategic data center in Sweden, and provided updates on its expanding AI operations in Paraguay, signaling strong growth in its high-performance computing segment.
Key Events
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$220M Sovereign AI Contract Secured
HIVE's BUZZ HPC subsidiary secured a three-year, $220 million GPU cloud contract with Bell Canada and Cohere Inc. to build Canadian sovereign AI infrastructure, deploying 2,304 NVIDIA Grace Blackwell GPUs.
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Strategic Data Center Acquisition in Sweden
The company is acquiring its 32 MW data center in Boden, Sweden, which it has leased since 2018, demonstrating long-term commitment and control over a key operational asset and planning upgrades to Tier III standards.
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Paraguay AI Infrastructure Expansion Progress
Research validated HIVE's A40 GPUs in Paraguay, and the company provided a timeline for energizing a 100 MW substation by September 2026 and commencing construction on a new Tier-III data center by Fall 2026 for H2 2027 service.
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ATM Program Agreement Amended
HIVE amended and restated its existing Equity Distribution Agreement, allowing for the sale of up to $300 million in common stock through an at-the-market offering, with approximately $214.7 million remaining from the previously authorized amount.
Analysis
HIVE Digital Technologies announced a significant $220 million three-year contract for its BUZZ HPC subsidiary to build Canadian sovereign AI infrastructure with Bell Canada and Cohere Inc. This deal, which involves deploying 2,304 NVIDIA Grace Blackwell GPUs, represents a major revenue stream and validates HIVE's strategic pivot into high-performance computing. Additionally, the company is acquiring its 32 MW data center in Boden, Sweden, securing a key operational asset, and reported progress on its 100 MW AI infrastructure in Paraguay, including research validating its GPU performance. These developments underscore HIVE's aggressive expansion in the AI sector and its commitment to building global, renewable-powered data centers.
At the time of this filing, HIVE was trading at $4.94 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $1.3B. The 52-week trading range was $1.60 to $7.84. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.