HIVE's transition from bitcoin mining to AI computing is bolstered by a GPU cloud agreement with Bell and Cohere.
By James Van Straten|Edited by Jamie Crawley Jun 18, 2026, 11:49 a.m. 1 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShow- The $220 million agreement involves HIVE supplying AI computing infrastructure in Canada via the installation of over 2,300 Nvidia GPUs.
- This partnership is projected to generate around $70 million in recurring annual revenue, elevating HIVE's total contracted HPC revenue above $100 million.
HIVE Digital Technologies (HIVE) experienced a 10% increase in shares during pre-market trading on Thursday after revealing a $220 million, three-year GPU cloud contract with Bell Canada and AI company Cohere. This move marks a significant step in HIVE's transition from its traditional focus on bitcoin mining.
The agreement will enable HIVE's BUZZ High Performance Computing division to deploy 2,304 Nvidia Grace Blackwell GPUs at Bell's AI Fabric facility located in Merritt, British Columbia. This infrastructure will serve as the dedicated computing layer for Cohere's enterprise AI models that cater to both government and corporate clients in Canada.
All infrastructure will be maintained within Canada, aligning with Ottawa's initiative to decrease dependence on foreign-controlled AI technologies.
The deployment is expected to commence between late 2026 and early 2027, contributing approximately $70 million in annual recurring revenue (ARR). With an existing ARR of about $35 million, HIVE's target for contracted HPC revenue now surpasses $100 million, indicating strong commercial progress in its infrastructure transition.
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CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High
CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
By CoinDesk ResearchJun 15, 2026In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
Why it matters:
In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.
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