NEW YORK, June 18, 2026, 09:09 (EDT)
- HIVE’s BUZZ HPC unit landed a three-year GPU cloud contract valued at roughly $220 million with Bell AI Fabric and Cohere.
- HIVE traded up over 11% in premarket, with Public data putting it at $4.42 as of 9:00 a.m. ET before Nasdaq’s regular session.
- Nasdaq regular trading hadn’t started. U.S. equity markets are shut Friday for Juneteenth.
HIVE Digital Technologies shares moved higher in U.S. premarket action Thursday after its BUZZ HPC arm landed a three-year GPU cloud agreement with Bell Canada’s Bell AI Fabric and Cohere valued at about $220 million. The contract is a new step for the former bitcoin miner as it pivots into AI infrastructure.
HIVE traded at $4.42 in premarket action at 9:00 a.m. ET, up 11.34% from its last close at $3.97, according to Public data. This was before the full Nasdaq session, which runs from 9:30 a.m. to 4:00 p.m. Nasdaq will be closed June 19 for Juneteenth.
HIVE’s announcement lands as investors look for proof that its AI-compute segment can stand up alongside its bitcoin mining business. HIVE said this latest deployment should mean about $70 million in annual recurring revenue and push contracted high-performance computing revenue over $100 million.
BUZZ is set to install 2,304 Nvidia Grace Blackwell GPUs at Bell’s Merritt, British Columbia site, under the contract. These chips are designed for heavy AI jobs. Cohere will use the platform to run its foundation models and enterprise AI tools. All the infrastructure will stay in Canada, known as sovereign AI, since data and computing won’t leave the country.
HIVE Executive Chairman Frank Holmes called the agreement a “defining moment.” CEO Aydin Kilic said the GB200 is set to go live sometime late 2026 or early 2027. Kilic said the deployment will add about $70 million in contracted ARR on top of the $35 million in current realized ARR. HIVE Digital Technologies
Bell AI Fabric President Michel Richer said the deal lets organizations “move from experimentation to production.” Michael Pelosi, Cohere’s Canada boss, said the platform offers AI “built for real use.” Craig Tavares, president and COO of BUZZ HPC, said Canada is “building the factories to power it.” PR Newswire
HIVE wants to set itself apart from other bitcoin miners like Marathon Digital, Riot Platforms and CleanSpark. Those stocks usually move on bitcoin price, hash economics, and power costs. Bitcoin traded near $64,322, off about 1%, according to current crypto-market data. HIVE says its AI compute contracts can give it something else to lean on if bitcoin prices fall.
Futures pointed higher early, with Nasdaq 100 futures up 1.49%, Reuters said. The broader market tone was firmer. Thursday brought added structure risk too, as some derivatives expiries moved up ahead of the Juneteenth break.
HIVE’s new AI contract comes after the company reported fiscal 2026 revenue of $297.8 million. Most of that was from digital currency mining—mining revenue totaled $278.3 million, while high-performance computing hosting brought in $19.5 million. HIVE posted a GAAP net loss of $148.4 million. The AI contract is big relative to HIVE’s existing compute revenue, but the company still needs to execute on it.
HIVE said Thursday that it got the green light from Boden Municipal Council for its buyout of the 32-megawatt Big Boden data center in northern Sweden. HIVE has been leasing the site since 2018. With the deal, it becomes the owner. HIVE says it plans to push the facility toward Tier III standards aimed at higher redundancy and uptime for enterprise AI and high-performance computing.
But the contract doesn’t bring immediate cash. HIVE pointed out risks like delays in getting equipment, setup, customer demand, credit risk with partners, power and running costs, pressure on prices, rules, and having enough capital. In a June 16 prospectus, HIVE said it had sold 29.2 million shares for $85.3 million in gross proceeds under its equity distribution plan, leaving about $214.7 million of stock that could still be sold — setting up a possible dilution overhang.
Right now, the share price move suggests traders want proof. The next hurdle isn’t as flashy—installing GPUs, holding onto margins, and converting contracted ARR into actual revenue, all before any funding gaps or bitcoin swings start clouding the story.
