Overview
- HIVE’s BUZZ High Performance Computing unit announced a three‑year, about $220 million agreement with Bell Canada and Cohere to deploy 2,304 NVIDIA Grace Blackwell GPUs at Bell’s Merritt, British Columbia facility.
- The companies say the Merritt cluster is slated to go live in late 2026 to early 2027 and will host Cohere’s enterprise models on Canadian soil to meet sovereign AI requirements.
- HIVE expects the deployment to add roughly $70 million in annual recurring revenue, which combined with prior contracted ARR moves the company’s contracted HPC revenue above $100 million.
- The GPU purchase is being funded in part by a $115 million convertible note and HIVE has reported procurement of the 2,304 GPUs configured in NVIDIA GB200 NVL72 rack systems.
- HIVE also received municipal approval to acquire the 32 MW Boden data center in Sweden but still faces execution risks including additional financing, sustained GPU supply, grid interconnections and permit approvals for larger buildouts.