HIVE Digital Technologies is repurposing its former Bitcoin mining facilities to provide AI cloud services through its subsidiary, BUZZ HPC. The company operates infrastructure across British Columbia, Manitoba, Ontario, Quebec, and New Brunswick, targeting government agencies and enterprises that require data residency within Canada.
In June 2026, BUZZ HPC secured a three-year contract valued at $220 million with Bell AI Fabric to deploy 2,304 NVIDIA Grace Blackwell GPUs for Cohere Inc. This was followed in August 2026 by a five-year agreement worth $350 million with an unnamed enterprise for 2,016 NVIDIA GB300 GPUs.
These contracts contribute to a projected annual recurring revenue of $180 million by September 2026. As of September 10, 2026, the company reported that its average daily revenue surpassed $1 million. The firm also collaborates with ProCogia to expand its technical capabilities.
HIVE plans to build a 320 MW AI gigafactory in the Greater Toronto Area, expected to launch in the second half of 2027. The facility is designed to accommodate over 100,000 GPUs, with an estimated total investment of CAD 3,5 billion.
