Shares of HIVE Digital Technologies ( HIVE ) rose 10% in premarket trading on Thursday after the company 220 million dollars announced.A three-year GPU cloud deal 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, which will form 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 Reducing dependence on foreign controlled AI technology.

The deployment is expected to go live from late 2026 to early 2027, generating annual recurring revenue (ARR) of approximately $70 million. Combined with current ARR of around $35 million, HIVE’s contracted HPC revenue target now exceeds $100 million, a clear indication that its infrastructure axis is gaining serious commercial momentum.