HIVE Digital Technologies Ltd (NASDAQ:HIVE) shares traded lower during Tuesday’s premarket session after the company unveiled a major Canadian AI infrastructure expansion plan.
The crypto mining and high-performance computing company plans to build a large-scale AI data center hub near Toronto through its subsidiary, BUZZ High Performance Computing Inc.
The project includes a planned AI gigafactory capable of supporting more than 100,000 GPUs at full capacity.
The development marks one of Canada’s largest proposed AI infrastructure projects.
Ontario Expansion
BUZZ acquired roughly 25 acres across two adjacent parcels in the Greater Toronto Area. The company paid approximately CAD$58 million combined for the properties.
The site carries access to nearly 320 megawatts of utility power. Management expects the project to enter service during the second half of 2027.
The company estimated that the total investment could approach CAD$3.5 billion. …
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