HIVE Digital repurposes its Bitcoin mining sites across Canada into AI infrastructure under the BUZZ HPC platform.
Bitcoin miners built warehouses of infrastructure to power their operations. HIVE Digital Technologies is converting that Bitcoin mining infrastructure into artificial intelligence GPU cloud services through its subsidiary, BUZZ HPC.
BUZZ HPC targets Canadian researchers, hospitals, startups, enterprises, and government agencies. GPU computing demand continues to climb, and Canada's data residency requirements favor domestic providers.
Canadian organizations handling sensitive information—particularly hospitals—must keep data within the country. A provider with sites across multiple provinces can meet these requirements without routing workloads outside Canada.
BUZZ HPC operates NVIDIA GPU infrastructure across British Columbia, Manitoba, Ontario, Quebec, and New Brunswick.
In June 2026, BUZZ HPC secured a three-year agreement with Bell AI Fabric worth approximately $220 million, deploying 2,304 NVIDIA Grace Blackwell GPUs for Cohere Inc., the Canadian AI company.
Two months later, in August 2026, BUZZ HPC signed a five-year cloud services agreement estimated at $350 million with a major unnamed enterprise, covering 2,016 NVIDIA GB300 GPUs.
Together, these contracts represent roughly $570 million in combined estimated value and are expected to drive annual recurring revenue from GPU cloud services to approximately $180 million by September 2026. The company also reported exceeding $1 million in average daily revenue as of September 10, 2026.
Beyond these major contracts, BUZZ HPC has bolstered its team through collaboration with ProCogia and by appointing industry veterans to key positions.
HIVE intends to construct a 320 MW AI gigafactory in the Greater Toronto Area, expected to come online in the second half of 2027. At full capacity, the site will house more than 100,000 GPUs, with an estimated investment of CAD $3.5 billion.
The $180 million ARR target provides shareholders a concrete metric to monitor. However, customer concentration presents a risk: two large contracts represent a significant share of the visible pipeline, and one customer remains unnamed. The CAD $3.5 billion gigafactory will require substantial financing.
The Cohere connection through Bell AI Fabric links HIVE to one of Canada's most recognized AI developers. Serving researchers, hospitals, and startups from domestic sites aligns with growing momentum to keep critical computing capacity on Canadian soil.
Key milestones ahead include the September 2026 ARR results, progress on the Toronto gigafactory, and whether BUZZ HPC can secure additional customers beyond its current anchor contracts.