Movement Alert|HIVE Digital Technologies Rises 8.1% in Regular Trading, $220 Million AI Computing Contract with Bell AI Fabric Formally Signed

Market Focus06-22

On June 22, HIVE Digital Technologies rose 8.1% in regular trading, trading at $4.835/share, with turnover of $41.26 million.

On the news front, HIVE's AI subsidiary BUZZ HPC formally signed a three-year GPU cloud service agreement with Bell AI Fabric, valued at approximately $220 million. The contract's core objective is to provide underlying computing power support for AI enterprise Cohere. Under the agreement, BUZZ HPC will deploy 2,304 NVIDIA Grace Blackwell GPUs at Bell's data center in British Columbia. Once operational, the project is expected to generate approximately $70 million in annual recurring revenue, directly pushing HIVE's HPC business annual revenue past the $100 million mark.

This deal follows HIVE's recent Q4 earnings beat, with EPS of $0.02 significantly exceeding the market consensus of a $0.22 loss, while B.Riley raised its target price from $5 to $8 maintaining a Buy rating. The contract signing marks HIVE's strategic transformation toward a vertically integrated AI infrastructure platform entering a substantive execution phase.

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