HIVE Digital Technologies (Provider) · Cohere (Buyer)
- Value
- $220M
- Capacity / term
- n/a · 3y
- First revenue
- not disclosed
- Sources
- [1] primary[2] tier-1
Backfilled 2026-09-18 during the weekly ledger review: a well-documented June 2026 deal (named counterparties, SEC 8-K and Bloomberg coverage) that predates the ledger's HIVE coverage and was missing alongside the already-ledgered hive-buzzhpc-gpu-cloud-2026-08 row (a separate, later, unnamed-counterparty contract). Distinct deal, not an expansion: different customer (Cohere, named, vs. an undisclosed enterprise customer), different site and a different GPU generation mix, so expansion_of is left null. Arithmetic check: $220M / 3yr = ~$73.3M/yr, consistent with the company-stated ~$70M ARR figure.
Conditions: Three-year GPU cloud contract for BUZZ HPC (HIVE's subsidiary) to deliver 2,304 Nvidia GB200 NVL72 GPUs to Cohere. Capacity is hosted at Bell's Merritt, British Columbia facility under a three-way sovereign-AI partnership branded 'Bell AI Fabric': Bell provides the data-center site and connectivity, BUZZ HPC owns and operates the GPU infrastructure (funded from HIVE's April 2026 $115M convertible note), and Cohere is the direct GPU cloud customer running its models for government and enterprise clients. Company materials describe roughly $70M of contracted ARR from this deployment against $35M of then-current realized ARR; go-live is targeted late 2026 into early 2027, too broad a window to set a dated revenue_start.