HIVE Digital Technologies announced a $220 million contract on June 18 to provide sovereign AI GPU computing capabilities. The contract was closed on June 19 through its subsidiary BUZZ HPC, involving 2,304 NVIDIA Grace Blackwell GPUs and integrating Bell Canada, Cohere, and Hypertec into Canadian AI infrastructure. HIVE projects that the contract will contribute approximately $70 million in annual recurring revenue once fully deployed. On June 25, HIVE plans to offer $100 million in notes and intends to lease a Swedish facility to an unnamed technology firm, but HIVE's shares declined following the announcement.
HIVE plans to raise $100M via notes and lease a Swedish facility to an unnamed tech firm, sparking investor concerns and a share decline.
Read the full storyThe crypto miner pivots toward high-performance computing with a three-year deal projected to generate $70 million in annual recurring revenue.
Amid the accelerating global trend toward sovereign AI capabilities, HIVE Digital Technologies has secured a strategic contract valued at $220 million as part of a sovereign AI infrastructure initiative in Canada.