HIVE Digital Technologies (CVE: HIVE) (NASDAQ: HIVE) (FSE: YO0) is accelerating its AI infrastructure growth through a new agreement with Dell Technologies (NYSE: DELL) the company announced on Sunday.
Through its wholly owned subsidiary BUZZ High Performance Computing (BUZZ), HIVE will deploy a 63-node cluster of liquid-cooled Dell PowerEdge XE9680L servers in support of 504 next-generation GPUs optimized for AI workloads. The servers will be delivered via Dell Integrated Rack Scalable Systems (IRSS) to the Bell AI Fabric data center.
The deployment marks the first phase of BUZZ’s operating agreements with Bell Canada, enabling expansion of a sovereign AI Cloud.
“This infrastructure will allow us to scale AI services efficiently while maintaining high-performance standards,” HIVE said.
Additionally, BUZZ recently earned Bronze status in the Semi-Analysis ClusterMax rankings, outperforming numerous publicly traded peers in the AI sector. The recognition highlights BUZZ’s technical leadership and readiness to expand its AI footprint.
Beyond the Bell AI Fabric facility, BUZZ owns proprietary high-efficiency, liquid-cooled data center designs in Canada and Sweden. The company is also procuring long-lead components to go live in the second half of 2026. Each site, along with Bell’s facility, will support 2,000 additional latest-generation GPUs, bringing BUZZ’s AI Cloud target to over 6,000 GPUs by year-end 2026.
Furthermore, BUZZ already operates over 5,000 GPUs, which combined with new deployments, will grow the total to more than 11,000 GPUs. The expansion is projected to generate an additional USD$120 million in annual run-rate revenue, with operating margins of 80 per cent after electrical and data center costs. This is in addition to BUZZ’s current USD$20 million ARR.
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Analyst coverage remains bullish
HIVE’s 70-megawatt Tier I data center in Grand Falls, New Brunswick, sits on 32.5 acres and can be upgraded for hyperscaler colocation to Tier III+ standards. The facility could accommodate over 25,000 latest-generation GPUs, based on reference architecture. Consequently, BUZZ’s high-performance computing capacity positions Canada as a significant player in the global AI landscape.
HIVE receives moderate analyst coverage, with roughly six to ten active firms providing recommendations. The consensus rating is a “Strong Buy,” reflecting confidence that the stock is likely to outperform the market. Analysts see potential upside from HIVE’s expanding AI cloud and high-performance computing operations.
Price targets vary among analysts, ranging from about US$5.50 at the low end to roughly US$10 at the high end, indicating some differences in risk assumptions and growth expectations. Despite this range, the overall sentiment is optimistic, with the majority of analysts maintaining “Buy” or “Strong Buy” ratings.
Several firms recently reaffirmed or upgraded their ratings. This further demonstrates HIVE’s progress in GPU deployments, partnerships with Dell Technologies and Bell, and expansion of its proprietary data centers. Analysts emphasize the company’s ability to scale efficiently, generate high operating margins, and capture growing demand for AI compute services.
Overall, HIVE’s analyst coverage suggests that the investment community expects strong medium-term growth. While price targets differ, the general outlook remains bullish. Furthermore, analysts anticipate the company’s infrastructure strategy will support continued revenue expansion and market leadership.
