HIVE Digital unveils plans for CAD $3.5 billion sovereign AI Gigafactory in Toronto
HIVE Digital Technologies (NASDAQ:HIVE) announced a massive expansion of its high-performance computing footprint, revealing a multi-billion-dollar plan to develop a premier industrial-scale artificial intelligence data center in Ontario.
The Vancouver-headquartered digital infrastructure developer will spearhead the project through its wholly owned subsidiary, BUZZ High Performance Computing.
The enterprise plans to deploy an estimated CAD $3.5 billion in total capital investment to construct a 320-megawatt (MW) sovereign AI infrastructure campus, colloquially termed an "AI gigafactory," within the Greater Toronto Area (GTA).
To secure the physical footprint for the development, BUZZ HPC closed the acquisition of a contiguous 25-acre land site in Ontario for an aggregate purchase price of CAD $58 million.
The transaction was split into a 21-acre main parcel acquired for CAD $46 million and an adjacent four-acre plot finalized at CAD $12 million.
The combined site sits directly within the Toronto-Waterloo innovation corridor, positioning the facility close to the region's prominent academic institutions, technology startups, and enterprise financial services hubs.
The facility is engineered to support fully vertically integrated AI supercomputers, with a structural target to host more than 100,000 high-density GPUs at full build-out.
To manage the intense thermal loads generated by next-generation accelerator hardware without taxing municipal utilities, the gigafactory will utilize advanced closed-loop cooling systems engineered under a strict no-water-use operational framework.
Management indicated that the project is on track to achieve initial ready-for-service status in the second half of 2027, aligning with its broader regional grid interconnection agreements.
The build-out phase is projected to generate over 800 localized construction jobs, alongside hundreds of permanent high-skilled operational engineering roles upon commercial commissioning.
The massive project forms the cornerstone of HIVE’s ongoing pivot from digital asset mining toward dedicated enterprise AI hosting.
Following recent power allocations, HIVE's global infrastructure pipeline stands at more than 850 MW, encompassing 450 MW of currently operating data centers and a 400 MW development pipeline scheduled to go live through 2027.
Together with its existing 70 MW campus in Grand Falls, New Brunswick, the newly acquired Ontario site expands HIVE’s Canadian infrastructure capacity to support an ultimate long-term pipeline of approximately 130,000 GPUs
