HIVE Digital shares rise after $220 million GPU cloud deal

HIVE Digital shares rose after the company disclosed a $220 million GPU cloud deal, according to reports from Investing.com and CoinDesk. The agreement has drawn market attention because it further advances HIVE’s ongoing transition away from bitcoin mining and toward high-performance computing and artificial intelligence infrastructure.

CoinDesk reported that the stock jumped about 10% after news of the contract, which it described as a Canada sovereign AI infrastructure deal. The arrangement is tied to Bell and Cohere, two companies involved in the broader AI and communications landscape. While the reports did not provide a full breakdown of the commercial terms, they indicated that the GPU cloud contract is the centerpiece of the latest development and a significant step in HIVE’s business shift.

The company has been repositioning itself in recent periods, moving beyond its roots in crypto mining to pursue opportunities in AI-related computing. That shift is relevant to investors because it changes the way the market may value HIVE’s assets, revenue prospects and long-term operating profile. Rather than relying primarily on bitcoin mining economics, the company is increasingly associating itself with demand for computing power used in AI workloads and cloud-based services.

The involvement of Bell and Cohere gives the agreement a broader strategic context. The reports framed the deal as part of Canada’s AI infrastructure effort, suggesting it is not only a commercial contract but also one connected to national-level technology buildout. For HIVE, that places the company in a different category of business activity than its earlier focus on digital asset mining, and it underscores the extent to which it is trying to participate in the growing market for AI infrastructure.

Investors appeared to respond positively to the development, with the sharp move in the share price reflecting expectations that the contract could support HIVE’s effort to establish itself in a new segment. The reports did not provide details on revenue timing, profitability, or deployment milestones, and they did not say how much of the $220 million figure would be recognized immediately. Even so, the size of the agreement alone was enough to move the stock higher and draw renewed interest to the company’s strategy.

The latest reaction also highlights how closely market participants are watching companies that are attempting to pivot from crypto-linked operations into artificial intelligence infrastructure. For HIVE, the deal adds another sign that its transformation is progressing, with GPU cloud capacity now at the center of the story. The reports did not suggest the company has fully completed that transition, but they did show that investors are treating the move as material. In a market where AI-related themes continue to attract attention, HIVE’s latest contract has positioned the stock as a name to watch within the broader stocks and technology space.