HIVE Digital Technologies announced that its wholly owned subsidiary, BUZZ High Performance Computing (BUZZ HPC), is moving ahead with a large-scale AI infrastructure investment in Ontario.
Shares of HIVE rose more than 33% at Monday’s market open after the company unveiled plans for what it described as one of Canada’s largest sovereign AI “gigafactories” in the Greater Toronto Area
The company said the project will be based in the Greater Toronto Area and is designed to support approximately 320 megawatts of utility capacity. According to HIVE, the development is expected to become one of Canada’s largest AI gigafactories. The planned facility is intended to host more than 100,000 GPUs at full build-out while supporting vertically integrated AI supercomputers and enterprise AI workloads.
The company described the project as infrastructure built to expand Canada’s domestic AI computing capabilities and strengthen the country’s position in artificial intelligence development. Land acquisitions support major AI expansion BUZZ said it acquired approximately 21 acres of land, referred to as the “Main Parcel,” for $46 million. The company also purchased an additional four-acre parcel adjacent to the site for $12 million.