HIVE Shares Jump After BUZZ HPC Unveils 320 MW AI Facility Near Toronto

CryptoProwl

Mon, May 18, 2026 astatine 11:40 AM CDT 2 min read

HIVE Digital Technologies Ltd. (NASDAQ: $HIVE) shares climbed implicit 24 percent Monday aft its BUZZ HPC portion unveiled a planned 320-megawatt AI infrastructure field successful the Greater Toronto Area, giving the erstwhile crypto miner a larger footprint successful the public-market contention for compute capacity.

The institution said BUZZ acquired astir 25 acres crossed 2 adjacent parcels for a combined $58 million. The tract includes a 21-acre main parcel purchased for $46 cardinal and a four-acre parcel purchased for $12 million, creating a contiguous spot tied to a 320 MW powerfulness allocation.

HIVE is positioning the installation arsenic 1 of Canada’s largest AI gigafactories, with the capableness to big much than 100,000 GPUs astatine afloat buildout. The task is expected to travel online successful the 2nd fractional of 2027 and represents astir C$3.5 cardinal successful planned superior investment.

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The announcement extends a displacement already taking spot crossed the listed bitcoin mining sector. Companies with powerfulness access, information halfway acquisition and concern sites are trying to person those assets into AI infrastructure demand, wherever capitalist attraction has been stronger than the mining economics that shaped the past cycle.

HIVE said its planetary powerfulness basal present stands astatine implicit 850 MW, including 450 MW of operating information centers and different 400 MW of pipeline capableness expected successful 2027. CEO Aydin Kilic said the institution has 5,500 GPUs online contiguous for AI compute, with onshore and powerfulness to enactment astir 130,000 GPUs crossed its Canadian operations.

The Toronto-area tract besides gives HIVE a much nonstop presumption successful Canada’s home AI infrastructure buildout. Executive Chairman Frank Holmes said the installation could go “one of North America’s largest domestically controlled AI clusters” erstwhile afloat built.

HIVE Digital Technologies Ltd. (NASDAQ: HIVE) is presently trading astatine $3.41 U.S. per share.