HIVE secures $220M AI infrastructure contract with Bell and Cohere

Source: Yahoo Finance Related: Georgia targets illegal crypto mining in Mestia crackdown: Report The deal is the latest move in HIVE's broader expansion into AI infrastructure. In May, the company said its BUZZ HPC subsidiary planned a 320-megawatt AI data center campus near Toronto, capable of supporting more than 100,000 GPUs. Earlier this month, HIVE reported that revenue from its HPC division increased to $19.5 million in fiscal 2026, nearly doubling from a year earlier. The company also said contracted annual recurring revenue from the business reached $35 million, supported by deployments of Nvidia-powered GPU clusters and new enterprise contracts. HIVE also reported a decline in its Bitcoin (BTC) treasury holdings, which fell to 150 BTC from 481 BTC a quarter earlier. Source: BitcoinTreasuries.NET Related: Nvidia’s $20 billion debt boom reinforces Bitcoin miners' AI pivot On Thursday, The Energy Mag (formerly The Miner Mag) noted that Bitcoin mining difficulty, a measure of how hard it is for miners to produce new blocks, fell 10.09% on June 14, one of the largest downward adjustments in the network's history. The publication attributed the decline to weaker mining economics, Bitcoin's price decline, seasonal power curtailment in Texas and broader power-market dynamics. It also argued that miners dedicating power to AI and HPC projects could alter future hashrate growth by reducing the amount of capacity available for Bitcoin mining. Bitcoin mining difficulty. Source: Coinwarz.com The decline came days after Cointelegraph reported that Bitcoin mining profitability had fallen to record lows, making it harder for some operators to remain profitable. Meanwhile, miners continue expanding into AI and high-performance computing. On Tuesday, IREN completed its acquisition of Spanish data center developer Nostrum Group, while TeraWulf recently added a Kentucky development site that it said could eventually support more than 1 gigawatt of AI and HPC capacity. Magazine: Does ‘Paper Bitcoin’ mean there’s an unlimited supply of BTC? More on the subject