HIVE Digital Technologies Ltd (TSX:HIVE, NASDAQ:HIVE, FRA:YO0, BVC:HIVECO), the Canadian digital infrastructure group listed in Toronto and New York, has unveiled plans to build one of Canada’s largest artificial intelligence data centres in the Greater Toronto Area through its…
bsidiary Buzz High Performance Computing. The facility, which the company describes as an “AI gigafactory”, would have approximately 320 megawatts of power capacity and house more than 100,000 graphics processing units (GPUs), the specialised chips used to train and run AI models
Buzz HPC has acquired a 25-acre site comprising two adjacent parcels for a combined $58 million and says it has secured key milestones along the power pathway needed to bring the project online. The target date for the facility to begin operating is the second half of 2027, with a total capital investment of approximately 3.5 billion Canadian dollars. The company said the project would create more than 800 construction jobs and hundreds of permanent skilled positions once operational.
Hive framed the investment in terms of national sovereignty, arguing that Canada needs domestically controlled computing infrastructure to avoid relying on data centres abroad for sensitive workloads. Executive chairman Frank Holmes said the facility would allow AI applications, including financial platforms, healthcare and scientific research to “run on Canadian iron, under Canadian control”. The site sits in what Hive calls the Toronto-Waterloo innovation corridor, a stretch that includes the University of Toronto, where AI pioneer Geoffrey Hinton conducted foundational research, and the University of Waterloo’s engineering programmes.