HIVE Plans CAD $3.5B Ontario AI Factory With 320 MW Power Allocation

HIVE’s high-performance computing arm is advancing plans for a CAD $3.5 billion AI infrastructure campus in the Greater Toronto Area, marking the Bitcoin miner’s latest move to reposition itself around AI compute.

The company said Monday that BUZZ High Performance Computing Inc., its wholly owned subsidiary, has acquired about 25 acres of contiguous land in Ontario that carries a 320 megawatt utility power allocation. The planned facility, which HIVE described as an “AI gigafactory,” is expected to come online in the second half of 2027 and host more than 100,000 GPUs at full build-out.

BUZZ paid CAD $46 million for a roughly 21-acre main parcel and CAD $12 million for an adjacent four-acre parcel, according to the announcement. The site sits in the Toronto-Waterloo corridor, giving the project proximity to Canada’s largest metropolitan economy, the University of Toronto, the Vector Institute and Waterloo’s engineering talent pool.

HIVE said the Ontario site would be designed for vertically integrated AI supercomputing, using closed-loop cooling systems with a no-water-use approach. The company added that the buildout is expected to create more than 800 construction jobs and hundreds of permanent high-skilled roles.

HIVE Chief Executive Officer Aydin Kilic said the company has been “strategically land-banking by regional substations,” adding that HIVE now controls more than 850 MW of power globally. That includes 450 MW of operating data centers and a 400 MW pipeline expected to come online in 2027. In Canada, HIVE said it has 100 MW of operating data centers and a 320 MW pipeline tied to the new GTA site.

The company noted that it currently has 5,500 GPUs online for AI compute. Together with its 70 MW Grand Falls site in New Brunswick and the planned 320 MW Ontario project, HIVE said it has land and power to support an infrastructure pipeline for about 130,000 GPUs.

HIVE’s announcement also leans into the broader policy theme of sovereign AI infrastructure, a phrase increasingly used by governments and technology companies to describe domestically controlled compute capacity. BUZZ President and Chief Operating Officer Craig Tavares said the facility would anchor the company’s Canadian AI platform across British Columbia, Manitoba, Ontario, Quebec and New Brunswick.