Hive stock jumps 10% in premarket trading after announcing a $220M, three-year GPU cloud contract with Bell Canada and Cohere, as it pivots from bitcoin mining (James Van Straten/CoinDesk)
Summary
Hive announced a $220 million, three-year GPU cloud contract with Bell Canada and Cohere, and the deal pushed the stock higher in premarket trading. The company is shifting its business away from bitcoin mining toward GPU cloud infrastructure. This move points to a larger transition into AI-related compute services. The news suggests Hive is trying to monetize its infrastructure in a more software- and cloud-focused market.
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Enterprise AI
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Cohere
$25M to $50M