HIVE Lands $220M AI Infrastructure Deal With Bell and Cohere
HIVE has secured a $220M contract with Bell and Cohere, a move expected to generate roughly $70M in annual recurring revenue.
If you've been watching the crypto-mining-to-AI pivot trend, HIVE Digital Technologies just made one of the loudest moves yet. The company announced a massive $220 million AI infrastructure contract with telecommunications giant Bell and AI software company Cohere — a deal that signals how serious former crypto miners are getting about the artificial intelligence business.
The headline number that investors are likely zeroing in on is the roughly $70 million in expected annual recurring revenue, or ARR. Think of ARR as the steady, predictable income a company can count on year after year — it's the kind of revenue stream that Wall Street tends to reward with higher valuations compared to one-time deals. For HIVE, that's a meaningful boost as it works to reposition itself as a serious player in AI compute infrastructure.
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Cohere, for those unfamiliar, is one of the more prominent enterprise-focused AI companies building large language models for businesses — think a B2B rival to OpenAI. Bell, meanwhile, is one of Canada's largest telecom providers. Partnering with two well-established names lends HIVE some serious credibility as it scales up its GPU-powered data center operations beyond its crypto roots.
The broader takeaway here is that the race to build AI infrastructure isn't just a game for the Nvidias and Amazons of the world anymore. Companies like HIVE, which already operate energy-intensive computing facilities, are finding that their existing hardware expertise translates surprisingly well into the AI compute market. Whether this contract marks a true turning point for HIVE or just a high-profile headline remains to be seen, but $220 million is hard to ignore.
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