finance
HIVE Digital Plans Large-Scale AI Data Center Near Toronto
HIVE Digital Technologies Ltd announced plans to build an AI data center hub in the Greater Toronto Area through its subsidiary BUZZ High Performance Computing Inc. The project includes a planned AI gigafactory capable of supporting more than 100,000 GPUs.
May 19, 9:38 AM·1m read1 source
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HIVE Digital Technologies Ltd shares traded lower in premarket trading on Tuesday after the company announced plans for a large-scale AI data center hub near Toronto. The company will develop the project through its subsidiary BUZZ High Performance Computing Inc. BUZZ acquired roughly 25 acres across two adjacent parcels in the Greater Toronto Area for approximately CAD$58 million.
The site provides access to nearly 320 megawatts of utility power. Management expects the project to enter service during the second half of 2027. 5 billion. The planned AI gigafactory is designed to support more than 100,000 GPUs at full capacity. The development marks one of Canada's largest proposed AI infrastructure projects.
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