HIVE Lands $220M AI Infrastructure Deal With Bell and Cohere
HIVE signs a major $220M contract with Bell and Cohere, adding roughly $70M in annual recurring revenue as it pivots deeper into AI.
HIVE Digital Technologies just locked in a $220 million AI infrastructure contract with telecom giant Bell and AI startup Cohere. This is the kind of deal that reframes a company's entire story — and fast. If you've been watching HIVE as a crypto miner, it's time to update your mental model.
The contract is projected to generate approximately $70 million in annual recurring revenue. That's not a one-time pop — that's a revenue floor that compounds. For a company that built its bones on Bitcoin mining, landing sticky AI infrastructure revenue changes the risk profile entirely.
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Cohere is one of the more serious enterprise AI players in the market right now, focused on large language models for business use. Bell, Canada's largest telecom, brings scale and credibility to the partnership. HIVE sitting at the center of that relationship says something about where their compute infrastructure actually stands.
The broader play here is one you're seeing across the crypto-mining sector: repurpose GPU horsepower for AI workloads when mining margins compress. HIVE appears to be executing that transition at a level most peers haven't reached. A $220 million contract with named enterprise clients is proof of concept, not just a press release pivot.
Watch how HIVE's revenue mix shifts over the next few quarters. If AI recurring revenue starts outweighing mining income, the market may need to reprice this name entirely. Continue reading at Cointelegraph.
