Hive shares jumps 10% on $220m Canada sovereign AI infrastructure deal

Markets Hive shares jumps 10% on $220m Canada sovereign AI infrastructure deal GPU cloud contract with Bell and Cohere strengthens HIVE's shift from bitcoin mining to high performance AI computing. By James Van Straten | Edited by Jamie Crawley Jun 18, 2026, 11:49 a.m. 1 min read Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Make preferred on Summary Show The $220 million deal will see HIVE provide sovereign AI computing infrastructure in Canada through a deployment of more than 2,300 Nvidia GPUs. The agreement is expected to add roughly $70 million in annual recurring revenue, pushing HIVE's contracted HPC revenue above $100 million. HIVE Digital Technologies (HIVE) shares jumped 10% in pre-market trading on Thursday after the company announced a $220 million , three-year GPU cloud contract with Bell Canada and AI firm Cohere, as the company continues its transition away from pure-play bitcoin mining. The deal will see HIVE's BUZZ High Performance Computing unit deploy 2,304 Nvidia Grace Blackwell GPUs at Bell's AI Fabric facility in Merritt, British Columbia, forming the dedicated compute layer for Cohere's enterprise AI models serving Canadian government and corporate clients. All infrastructure will remain on Canadian soil, supporting Ottawa's broader push to reduce reliance on foreign-controlled AI technology. The deployment is expected to go live from late 2026 to early 2027, adding roughly $70 million in annual recurring revenue (ARR). Combined with approximately $35 million of current realised ARR, HIVE's contracted HPC revenue target now exceeds $100 million, a clear signal that its infrastructure pivot is gaining serious commercial momentum. Bitcoin News Artificial Intelligence Latest Crypto News 1 The great rotation: Investors desert the Magnificent 7, crypto for AI bottlenecks 13 minutes ago 2 Bitcoin's nemesis, the Dollar Index, is on the verge of a major breakout 39 minutes ago 3 Aster popped over 10% on radical 'buyback and burn' upgrade. But gains were short-lived 47 minutes ago 4 Crypto market positioning is 'defensive and thin' after Fed, Marex  analysts say 53 minutes ago 5 Malta's financial regulator explores bringing parts of DeFi under MiCA's orbit 1 hour ago 6 The bond market is flashing a clear signal on interest rates. Bitcoin bulls should take note 4 hours ago 7 Live markets: DXY Index breaks higher as bitcoin tries to weather stronger dollar 5 hours ago 8 Strategy's STRC preferred stock hits a record low below par 6 hours ago 9 XRP slips 4% below $1.20 after breakout rally stalls near key resistance 6 hours ago 10 Buying bitcoin below its 200-week average has historically delivered over 100% in median returns, Kraken says 6 hours ago Latest Research 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 Research Jun 15, 2026 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. 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. View Full Report More From Markets The great rotation: Investors desert the Magnificent 7, crypto for AI bottlenecks Aster popped over 10% on radical 'buyback and burn' upgrade. But gains were short-lived Crypto market positioning is 'defensive and thin' after Fed, Marex  analysts say