HIVE Digital Stock Jumps 12% on $220 Million Investment

Product / TechCorporate Action Impact 4
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HIVE Digital's stock surged 12% after the company secured a $220 million U.S. investment from Bell Canada and artificial intelligence firm Cohere. The three-year deal will see HIVE's high-performance computing unit deploy 2,304 Nvidia processors at Bell's AI facility in British Columbia, providing dedicated computing capacity for Cohere's enterprise AI models serving Canada's federal government and corporate clients. All infrastructure will remain on Canadian soil, supporting Ottawa's push to reduce reliance on foreign-controlled AI technologies. The project is expected to be operational by early 2027, adding roughly $70 million U.S. in annual recurring revenue to HIVE Digital, whose contracted HPC revenue now exceeds $100 million U.S.

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