HIVE Digital Acquires 7.2 MW Data Center in Toronto for AI Development

HIVE Digital Technologies (HIVE) has agreed to acquire a 7.2-megawatt data center in Toronto, Canada. The facility will serve as a foundation for artificial intelligence (AI) infrastructure through its subsidiary BUZZ HPC.

The site will be upgraded to Tier 3 standards, featuring liquid cooling and accommodating up to 5,000 next-generation GPUs.
This upgrade will facilitate large-scale AI model training and inference.
The center aims to support Canadian enterprise and government workloads, enhancing digital sovereignty.

Craig Tavares, president of BUZZ HPC, highlighted the importance of this acquisition for national innovation leadership and data security. The move aligns with global efforts to establish robust AI infrastructure amid rising demand for high-performance computing (HPC).

HIVE is transitioning from crypto mining to AI and cloud services, emphasizing renewable-powered infrastructure. Other bitcoin miners, such as Core Scientific (CORZ), are also diversifying into the AI sector to enhance revenue streams.