HIVE Digital Plans Major AI Infrastructure Facility in Toronto

HIVE Digital, a company transitioning from Bitcoin mining to AI infrastructure, has announced plans to build a 320 MW AI infrastructure park in the Toronto area. According to ChainCatcher, this facility aims to become one of Canada's largest sovereign AI 'super factories.' Following the announcement, HIVE's stock price surged over 35% at Monday's market opening. The project is being advanced by HIVE's high-performance computing subsidiary, BUZZ. Once fully completed, the facility is expected to house over 100,000 GPUs and is targeted to be operational by the second half of 2027. The total investment for the project is estimated at approximately CAD 3.5 billion (USD 2.55 billion), which will be used for the construction of large-scale data centers for training and running AI models. In recent years, HIVE has been actively shifting its business focus from traditional Bitcoin mining to AI and high-performance computing infrastructure, with previous expansions in GPU clusters and AI data centers in Paraguay and Sweden.