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HIVE Digital Technologies (HIVE) is soaring after announcing that its wholly owned subsidiary, BUZZ High Performance Computing, is advancing plans for a major AI infrastructure facility in the Greater Toronto Area. HIVE is known for prioritizing green-powered digital asset mining, but it has since shifted toward building and operating next-generation Tier-I and Tier-III data centers across Canada, Sweden, and Paraguay, serving both Bitcoin mining and high-performance computing clients.

• The planned facility represents a CAD $3.5 bln investment and is expected to become one of Canada's largest AI gigafactories, with 320 MW of utility capacity and support for 100,000+ GPUs at full build-out. Targeted for 2H27, the project is supported by BUZZ's acquisition of a contiguous 25-acre site tied to the 320 MW power allocation.
• Management said HIVE now has over 850 MW of power globally, including 450 MW of operating data centers and a 400 MW pipeline expected to come online in 2027. HIVE also said it has 5,500 GPUs online today and, including its 70 MW New Brunswick site and the new 320 MW GTA site, has the land and power to support roughly 130,000 GPUs.
• HIVE's most recent results, reported on February 17, showed record revenue and progress against its dual-engine strategy, though BUZZ HPC remains early. Revenue reached $93.1 mln, with hashrate services still accounting for roughly 95% of the total, while BUZZ contributed nearly $5 mln and was tracking at about $20 mln of ARR.
• HIVE is positioning the facility as critical Canadian AI infrastructure, giving domestic enterprises, government, healthcare, finance, research institutions, and other sensitive workloads access to compute located inside Canada.

Briefing.com Analyst Insight

While this is an exciting announcement for HIVE, the focus now turns to how progress and execution against its significant AI infrastructure buildout can support a more meaningful HPC revenue stream over time. The planned GTA facility gives HIVE a stronger presence across Canada's AI infrastructure market at a time when access to power, domestic compute capacity, and sovereign AI demand remain key themes. With that said, the rally appears to reflect the perceived optionality of HIVE's AI infrastructure opportunity more than a near-term earnings contribution. The project is targeted for the second half of 2027, and investors will still need to see progress around financing, customer commitments, GPU procurement, and buildout execution before it can materially change the financial profile. If successful, the GTA facility could give BUZZ HPC a much larger role in HIVE's growth story, but HIVE's most recent results still show Bitcoin mining remains the core business today.