Hive Digital stock jumps 10% after signing $220M AI infrastructure deal

Bitcoin mining company Hive Digital (Nasdaq: HIVE) announced it has signed a $220 million GPU cloud contract with Canadian telecom company Bell Canada and AI firm Cohere, causing its stock to jump 10% in pre-market trading. Under the three-year agreement, Hive's High-Performance Computing (HPC) division will supply 2,304 Nvidia Grace Blackwell GPUs. This infrastructure will be used to operate AI models for Canadian government and corporate clients. The company projects the deal will add approximately $70 million in Annual Recurring Revenue (ARR).