HIVE Acquires 7.2MW Toronto Data Center to Expand AI Infrastructure
HIVE Digital (NASDAQ: HIVE) has signed an agreement to acquire a 7.2-megawatt data center in Toronto, marking the first infrastructure purchase under its new high-performance computing subsidiary, BUZZ HPC.
In a press release Monday, HIVE said the acquisition is intended to establish a foothold for developing sovereign Canadian AI infrastructure, with plans to deploy liquid-cooled systems to support advanced compute workloads.
Located in Canada’s largest tech hub, the Toronto facility is expected to be upgraded to Tier 3 standards and house up to 5,000 next-generation GPUs. The site will serve as BUZZ HPC’s first wholly owned and operated data center, positioning the subsidiary to support large-scale AI training, inference, and cloud services tailored to government agencies, academic institutions, and enterprise clients.
The move comes amid surging global demand for high-performance AI compute infrastructure and reflects a growing trend among crypto-focused data center operators repositioning for AI-driven growth.
HIVE’s latest acquisition adds to the $7.03 million in revenue it generated from HPC hosting during the nine months ended December 31, as part of its broader effort to diversify beyond Bitcoin mining.
Meanwhile, HIVE is also scaling up its Bitcoin mining operations. The company recently surpassed the 11 EH/s mark following the early completion of its Paraguay site.
It now aims to accelerate its 25 EH/s target from year-end to the end of November, aligning the milestone with the U.S. Thanksgiving holiday. HIVE mined 139 BTC in May, which implied a realized hashrate of 8.51 EH/s and represented a 32% jump in realized computing capacity month-over-month.
