HIVE Digital (HIVE) Stock Surges 40% After Subsidiary Announces AI Gigafactory in Toronto

TLDR

• HIVE Digital stock jumped roughly 40% on Monday after announcing a major AI infrastructure project in Ontario.
• Subsidiary BUZZ High Performance Computing is behind the planned C$3.5B facility in the Greater Toronto Area.
• The AI gigafactory will have approximately 320 MW of utility capacity and could host over 100,000 GPUs at full build-out.
• BUZZ HPC purchased around 21 acres of land for C$46M, plus an additional 4-acre parcel for C$12M.
• The facility is expected to go online in the second half of 2027.

HIVE Digital Technologies (HIVE) stock jumped roughly 40% on Monday after the company announced a C$3.5 billion AI infrastructure project in Ontario through its wholly owned subsidiary, BUZZ High Performance Computing.

HIVE Digital Technologies Ltd., HIVE

The planned facility will be located in the Greater Toronto Area and is designed to support approximately 320 megawatts of utility capacity.

At full build-out, the site could host more than 100,000 GPUs, positioning it as one of Canada’s largest AI gigafactories.

BUZZ HPC has already moved on the land. The subsidiary purchased approximately 21 acres for C$46 million, along with a nearby 4-acre parcel for C$12 million.

That’s a combined land spend of roughly C$58 million before any construction begins.

The facility is designed to support fully vertically integrated AI supercomputers, meaning HIVE is looking to control the full stack — from power to hardware to compute.

What Is Being Built

The term “gigafactory” here refers to an industrial-scale AI infrastructure facility, not a manufacturing plant. Think massive compute power under one roof.

The 320 MW capacity figure is the headline number. For context, that level of power draw is enough to run a serious hyperscale data center operation.

HIVE says the project will be structured to support AI supercomputing workloads, which demand consistent, high-density power delivery.

Timeline and Scale

The facility is scheduled to go online in the second half of 2027, giving the project roughly an 18-month runway from announcement to first operations.

That’s an aggressive timeline for a build of this size, though the land acquisition is already complete.

Full build-out with 100,000-plus GPUs would likely come after the initial launch phase.

BUZZ HPC is the entity driving the project. It operates as a wholly owned subsidiary of HIVE Digital, which is listed on both U.S. and Canadian exchanges.

The C$3.5 billion investment figure covers the full scope of the planned development, not just the land already purchased.

HIVE Digital has been expanding its compute infrastructure footprint, and this announcement marks its largest single project to date.

The stock’s 40% move on Monday reflects how the market received the news — a sharp repricing on a project that puts HIVE in a different category of scale.

The land is secured. The power capacity is targeted. The go-live date is set for late 2027.

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