HIVE Acquires 7.2-Megawatt Data Center in Toronto for AI Expansion

HIVE Digital Technologies Ltd. has acquired a 7.2-megawatt data center in Toronto, a strategic move to expand its high-performance computing (HPC) infrastructure and foster the growth of a sovereign Canadian AI ecosystem. The facility, situated in Canada's largest tech hub, will be managed by HIVE's wholly-owned subsidiary, BUZZ High Performance Computing Inc. (BUZZ HPC).

This acquisition is a pivotal step for BUZZ HPC, positioning it at the forefront of Canada's digital infrastructure evolution. The Toronto data center will serve as a cornerstone for BUZZ HPC's growth, enabling the deployment of highly dense, liquid-cooled advanced compute infrastructure. This infrastructure will support sovereign workloads, including large-scale AI training, inference, and cloud services tailored for Canadian enterprises, government initiatives, and AI innovators.

Craig Tavares, President and COO of BUZZ HPC, underscored the strategic significance of the Toronto location. He noted that Toronto is not only the largest city in Canada but also the country's most important center for higher education, AI research, and dense fiber optic connectivity. The acquisition provides BUZZ HPC with a critical footprint to develop a sovereign AI data center, ensuring data residency, security, and national innovation leadership.

The acquisition aligns with HIVE's long-term vision of building Canada's next-generation compute infrastructure. As global demand for AI and HPC capabilities continues to grow, HIVE aims to contribute to a future where Canadian data, AI models, and intellectual property can be developed and hosted on Canadian soil. This move also reinforces HIVE's commitment to sustainable digital infrastructure, with plans to integrate green energy sources as part of its broader green-focused goals.

Frank Holmes, Executive Chairman of BUZZ HPC and HIVE, highlighted the significance of this acquisition. He stated that as HIVE continues to scale, BUZZ HPC is launching its Canadian sovereign strategy. The Toronto site will be BUZZ HPC's first owned and operated Tier 3 data center, strategically aligned with sovereign incentives. The facility will be upgraded to liquid-cooled Tier 3 standards to power the next generation of GPUs for AI compute, with the potential to operate a GPU cloud of up to 5,000 next-generation GPUs for AI compute once the upgrade is complete.

Aydin Kilic, President and CEO of HIVE, expressed enthusiasm about the acquisition. He noted that HIVE is taking a significant step forward to drive value for its shareholders through BUZZ HPC. Tavares' leadership and deep expertise are helping HIVE seize the opportunity to build sovereign, Tier 3 liquid-cooled infrastructure that will power the next generation of AI and HPC workloads. With Tavares at the helm of BUZZ HPC and the proven skill set of the team, HIVE is confident in its ability to innovate and scale.

HIVE Digital Technologies Ltd. was founded in 2017 as the first publicly-traded crypto miner. The company builds and operates sustainable blockchain and AI infrastructure powered exclusively by renewable hydroelectric energy. With a global footprint across Canada, Sweden, and Paraguay, HIVE is committed to operational excellence, green energy leadership, and creating long-term value for its shareholders and host communities.