HIVE to Build 320MW Toronto-Area AI "Super Factory"; Shares Jump 35% at Open

May 18 — HIVE Digital, a Bitcoin miner repositioning itself as an AI infrastructure provider, said it plans to develop a 320MW AI infrastructure campus in the Toronto area, targeting what it calls one of Canada’s largest sovereign AI "superfacilities." Shares of HIVE rose more than 35% at Monday’s open following the announcement. The company said the project will be led by its high-performance computing subsidiary, BUZZ, and is designed to support more than 100,000 GPUs once fully built out. HIVE expects the site to begin operations in the second half of 2027. Total investment is estimated at roughly CAD 3.5 billion (about USD 2.55 billion), earmarked for constructing a large-scale data center to train and run AI models. HIVE has been accelerating its shift from traditional Bitcoin mining into AI and high-performance computing. The company previously expanded GPU clusters and AI data center operations in Paraguay and Sweden.