Key Highlights
- Shares of HIVE Digital climbed approximately 40% Monday following news of a significant AI infrastructure development in Ontario.
- The company’s subsidiary, BUZZ High Performance Computing, is spearheading the C$3.5 billion project in Greater Toronto.
- The planned AI gigafactory will feature roughly 320 MW of utility power capacity and support upwards of 100,000 GPUs when fully operational.
- BUZZ HPC has acquired approximately 21 acres of property for C$46 million, along with an extra 4-acre site for C$12 million.
- Operations at the facility are slated to begin during the latter half of 2027.
Shares of HIVE Digital Technologies (HIVE) climbed approximately 40% Monday after revealing a C$3.5 billion AI data center project in Ontario via its fully owned subsidiary, BUZZ High Performance Computing.
HIVE Digital Technologies Ltd., HIVE
The upcoming data center will be situated within the Greater Toronto Area and engineered to accommodate roughly 320 megawatts of utility power.
When construction is complete, the campus could house in excess of 100,000 GPUs, making it among the largest AI computing facilities in Canada.
BUZZ HPC has already secured the necessary real estate. The subsidiary acquired roughly 21 acres at a cost of C$46 million, alongside an adjacent 4-acre tract for C$12 million.
Combined, the land acquisition totals approximately C$58 million ahead of any construction activity.
The campus is being developed to accommodate fully integrated AI supercomputing systems, indicating HIVE aims to manage the complete technology stack ā spanning power infrastructure, hardware components, and computational resources.
Project Specifications
The “gigafactory” designation in this context describes an industrial-scale AI infrastructure operation, rather than a traditional manufacturing facility. Picture enormous computational capability housed within a single complex.
The 320 MW power capacity represents the primary technical specification. To put this in perspective, this amount of electricity is sufficient to operate a substantial hyperscale computing facility.
According to HIVE, the development will be engineered specifically for AI supercomputing applications, which require reliable, high-density electrical delivery.
Development Schedule and Magnitude
The data center is targeted to commence operations during the second half of 2027, providing the initiative with an approximately 18-month development window from announcement to initial launch.
This represents an ambitious schedule for a construction project of this magnitude, although property acquisition has already been finalized.
Complete deployment featuring 100,000-plus GPUs would presumably occur following the initial operational phase.
BUZZ HPC serves as the operating entity managing the initiative. It functions as a wholly owned division of HIVE Digital, which maintains listings on both U.S. and Canadian stock exchanges.
The C$3.5 billion capital commitment encompasses the entire planned development, extending beyond merely the real estate already acquired.
HIVE Digital has been systematically expanding its computing infrastructure presence, and this announcement represents its most substantial individual undertaking to date.
The equity’s 40% surge Monday demonstrates investor response to the disclosure ā a significant revaluation based on an initiative that positions HIVE within a substantially larger operational tier.
The property is secured. The power infrastructure is planned. The operational launch is scheduled for late 2027.
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