HIVE shares were up over 35% on Monday morning at market open after the bitcoin miner-turned-digital infrastructure company unveiled plans for what it says could become one of Canada's largest sovereign AI "gigafactories' in the Greater Toronto Area.
Hive Digital (HIVE) stock price chart. Source: Google Finance
The company said its BUZZ High Performance Computing subsidiary is moving forward on a planned 320-megawatt AI infrastructure campus that would be able to host more than 100,000 GPUs at full build, with a target launch set for the second half of 2027.
Hive estimates the project will cost roughly CAD $3.5 billion ($2.55 billion) to build and will act as an industrial-scale data center to train and run artificial intelligence models.
Hive said BUZZ acquired roughly 25 acres of land for roughly CAD $58 million ($42 million) while also securing access to power.
