Nvidia Secures Demand for 2,304 Grace Blackwell GPUs in $220M HIVE Deal
NVDA•HIVE Digital’s BUZZ HPC signed a three-year $220 million GPU cloud contract with Bell Canada and Cohere, deploying 2,304 NVIDIA Grace Blackwell GPUs in GB200 NVL72 systems Merritt, British Columbia, with operations slated for late 2026. The deal and HIVE’s Swedish data center purchase underpin sustained NVIDIA AI infrastructure demand.
1. HIVE’s $220M GPU Cloud Contract
BUZZ HPC, a HIVE Digital subsidiary, has secured a three-year GPU cloud services agreement valued at approximately $220 million with Bell Canada and Cohere, set to deploy 2,304 NVIDIA Grace Blackwell GPUs in GB200 NVL72 rack-scale systems at Bell’s Merritt, British Columbia data center. Operations are slated to begin between late 2026 and early 2027, providing multi-year visibility into NVIDIA hardware demand.
2. NVIDIA Hardware Deployment Details
The agreement calls for the installation of high-performance NVIDIA AI infrastructure powered by Grace Blackwell GPUs, which is expected to contribute roughly $70 million in annual recurring revenue once operational, complementing HIVE’s existing annual revenue base of about $35 million from its current deployments.
3. Financing Underpins AI Expansion
HIVE funded the purchase of NVIDIA Grace Blackwell systems with proceeds from a $115 million convertible note financing completed in April 2026, reflecting the company's shift from cryptocurrency mining to large-scale AI and cloud computing infrastructure services.
4. Strategic Swedish Data Center Acquisition
Separately, HIVE gained municipal approval to acquire the 32 MW Big Boden data center in Boden, Sweden, where it has been a tenant since 2018, marking a transition to ownership subject to closing conditions and building on over 960 million Swedish kronor invested in the region over eight years.
