HIVE Digital Technologies is building one of Canada’s largest AI data centers, a 320-megawatt gigafactory in the Greater Toronto Area that represents a CAD $3.5 billion investment and a decisive pivot away from the company’s Bitcoin mining roots.
The facility, being developed through HIVE’s subsidiary BUZZ High Performance Computing Inc., is designed to host more than 100,000 GPUs and is expected to begin operations in the second half of 2027. To put that GPU count in perspective: HIVE currently runs about 5,500 GPUs across its global operations. This isn’t a modest expansion. It’s an 18x leap.
The details behind the deal
HIVE secured approximately 25 acres of land in the GTA for CAD $58 million, along with a dedicated 320 MW power allocation from Ontario’s clean electricity grid. That last part matters a lot. Access to reliable, large-scale clean power is one of the biggest bottlenecks in AI infrastructure development, and HIVE just locked in a significant chunk of it.
The 320 MW figure also represents a meaningful addition to HIVE’s existing footprint. The company currently operates more than 850 MW of total power capacity across its global sites, meaning the Ontario facility alone would expand that base by roughly 38%.
