Overview
- HIVE’s BUZZ High Performance Computing unit announced on Thursday that it will deploy 2,304 NVIDIA Grace Blackwell GPUs at Bell’s AI Fabric site in Merritt, British Columbia under a three‑year, $220 million agreement with Bell Canada and Cohere.
- The Merritt deployment is expected to be operational in late 2026 to early 2027 and is projected to add roughly $70 million in annual recurring revenue, taking HIVE’s contracted HPC revenue above $100 million.
- HIVE says it has procured the GPUs as NVIDIA GB200 NVL72 rack‑scale systems and plans to fund the purchase in part with proceeds from a $115 million convertible note it completed in April.
- Separately, HIVE completed the purchase of the 32 MW Big Boden data centre in Boden, Sweden, moving from tenant to owner of a facility it has operated since 2018.
- HIVE’s longer‑term plan for a 320 MW Toronto AI campus still depends on securing much larger financing, continued GB200 GPU supply, and utility interconnection and permitting, and the Bell/Cohere deal underscores demand for Canada‑based, sovereign AI compute for government and corporate clients.