Hive Digital Technologies Shares Surge 26% Following AI Facility Announcement

Hive Digital Technologies experienced a 26% increase in its share price after announcing plans for a new AI facility through its subsidiary, Buzz High Performance Computing. According to NS3.AI, the facility, which will be located in the Greater Toronto Area, is projected to have a capacity of 320 MW. The development is expected to cost C$3.5 billion and is scheduled to become operational in the second half of next year. This expansion will increase Hive's global power capacity to 850 MW.