ExpansionMay 19, 2026, 06:07 AM
HIVE Subsidiary BUZZ HPC Acquires Land for 320 MW AI Gigafactory in GTA
AI Summary
HIVE Digital Technologies Ltd., through its wholly owned subsidiary BUZZ High Performance Computing Inc., announced the acquisition of approximately 25 acres of land in the Greater Toronto Area for a total of $58 million. This contiguous site, benefiting from a 320 MW power allocation, will be developed into an industrial-scale AI infrastructure facility, or "AI gigafactory." The project is expected to become one of Canada's largest, designed to support over 100,000 GPUs at full build-out, with a target online date in the second half of 2027 and a capital investment of approximately CAD $3.5 billion.
Key Highlights
- BUZZ HPC acquired 21 acres for $46 million and an additional 4 acres for $12 million.
- Total land acquisition cost was $58 million for a contiguous 25-acre site in the GTA.
- The site benefits from a 320 MW power allocation for a new AI gigafactory.
- The project targets online in H2 2027, with a capital investment of ~CAD $3.5 billion.
- The facility is designed to host over 100,000 GPUs at full build-out.
- Expected to create 800+ construction jobs and hundreds of permanent high-skill roles.
- HIVE now has over 850 MW of global power capacity, including 400 MW in pipeline.
Price Impact
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