Bitcoin miner HIVE buys Toronto-area site for AI computing hub; shares jump 45%

HIVE Digital Technologies, a Bitcoin mining company, has acquired land in the Toronto area for $58 million and plans to develop an industrial-grade AI computing center through its subsidiary, BUZZ High Performance Computing. The project is expected to deliver about 320 MW of capacity and house more than 100,000 GPUs once fully operational, positioning it as a candidate to become one of Canada's largest computing "superfacilities." HIVE shares climbed as much as 45% after the announcement. Two weeks earlier, the company raised $115 million to expand its global data center footprint and increase GPU buildout capacity.