TORONTO, June 19, 2026, 13:10 EDT
- HIVE shares in Toronto jumped 8.8% to C$6.57 on Friday. On the Nasdaq, HIVE ended at $4.26, up 7.3%, with trading paused for the U.S. Juneteenth holiday.
- BUZZ HPC landed a three-year GPU cloud deal worth about $220 million, linked to Bell Canada and Cohere. The contract is focused on 2,304 Nvidia Grace Blackwell chips in British Columbia.
- Execution is next. HIVE said it expects deployment from late 2026 to early 2027. The company’s main Bitcoin mining operations are still tied to Bitcoin prices and mining difficulty.
HIVE Digital Technologies shares in Toronto jumped Friday after its BUZZ High Performance Computing unit nailed down a $220 million GPU cloud deal over three years with Bell Canada and Cohere. Investors got a live look at the Canadian stock, with Nasdaq trading paused for Juneteenth. HIVE traded at C$6.57, up 8.8%, at 12:52 p.m. ET. On the U.S. side, HIVE’s Nasdaq shares last ended Thursday at $4.26, up 7.3%, and ticked up to $4.28 in after-hours.
Timing is key here. Nasdaq will shut on Friday for Juneteenth, making Thursday’s session the last one before the holiday break. In Toronto, trading shows that investors are still pricing in HIVE’s move from mainly Bitcoin mining to high-performance computing, or HPC, which rents out processing power for AI and big workloads.
HIVE said its BUZZ unit plans to set up 2,304 Nvidia Grace Blackwell GPUs at Bell’s Merritt, British Columbia, site. These chips, or GPUs, process large volumes of data in parallel and are key for AI model workloads. Cohere will tap the system for AI work with enterprise and government users. The setup stays in Canada, with the partners calling it “sovereign AI”—all data and computing stay local and under Canadian control. Hive Digital Technologies
HIVE’s Nasdaq shares started the shortened U.S. week at $3.96 and closed Thursday at $4.26, bouncing off a midweek pullback after contract headlines gave the stock a lift. The gain from the last Friday close at $3.73 comes out to roughly 14%. Traders will see on Monday if the bid holds or the stock gives ground as volumes return after the holiday.
President and CEO Aydin Kilic said HIVE is planning for the Nvidia GB200 rollout to start running from late 2026 to early 2027. That would add around $70 million in contracted annual recurring revenue—ARR—on top of the currently realized $35 million. ARR is a revenue run-rate figure, not recognized sales. Kilic described the planned locations as “AI Factories” and said the aim is to “convert clean energy into intelligence at scale.” Hive Digital Technologies
Bell AI Fabric President Michel Richer said Canada has the “talent and innovation to lead in AI.” Michael Pelosi, Cohere’s country manager for Canada, said enterprise and government customers want to know “where those models run.” BUZZ HPC president and COO Craig Tavares said, “AI does not scale on ideas alone,” and mentioned data centers, GPUs, models and operating discipline. PR Newswire
The deal isn’t the only thing happening on June 18. HIVE said it got approval from the Boden Municipal Council to buy the Big Boden 32-megawatt data center in Sweden. The 32 megawatts mark the site’s power capacity, important for Bitcoin mining and AI compute. HIVE said the acquisition means it now owns the site it’s used since 2018, instead of just renting it.
HIVE is getting priced less as a straight mining play and more as a pick on AI infrastructure. That’s putting it next to names like IREN and Bitdeer for investors, both of which have been repurposing data-center and power assets for AI and cloud clients when mining margins get tight.
But HIVE still faces some big hurdles. The company needs to pay for and install new chips, get the cluster running, and keep its customers through to late 2026 or early 2027. There’s also risk of delays. In its fiscal 2026 report, HIVE posted $297.8 million in revenue but ended up with a $148.4 million GAAP net loss. Fourth-quarter Bitcoin mining revenue dropped 23.9% from the prior quarter, as Bitcoin prices slid and network difficulty climbed.
The week opens with less noise but plenty of unknowns. Nasdaq trading restarts Monday as investors look at a bigger AI revenue stream, but also see execution risks, funding demands and unstable Bitcoin economics. The stock now trades with a different setup: it has a specified customer list, a fixed contract value, and a countdown that starts ahead of GPU delivery.
