HIVE Stock On Track To Hit Four-Month High After Company Plans $2.5B GPU Campus In Canada

• HIVE shares surged more than 30% in premarket trading after the company announced plans for a large AI-focused data center campus in Ontario.
• The project, led by subsidiary BUZZ HPC, is expected to support 320 MW of electricity capacity and more than 100,000 GPUs for AI workloads.
• HIVE estimates the total investment at roughly CAD $3.5 billion, with the facility expected to come online in the second half of 2027.

Shares of HIVE Digital Technologies (HIVE) were on track to reclaim a four-month high in early morning trade on Monday after the company announced plans to build a large-scale AI-focused data center campus in Ontario through its subsidiary, BUZZ HPC.

The company said its project, located near Canada’s Toronto-Waterloo technology corridor, will be designed to support roughly 320 megawatts (MW) of electricity capacity. It stated that 320 MW of infrastructure is sufficient to power more than 100,000 GPUs used for artificial intelligence (AI) training and inference workloads.

The announcement marks HIVE’s latest step in its gradual transition from a pure-play Bitcoin (BTC) miner into a broader AI and high-performance computing (HPC) infrastructure company.

HIVE’s stock jumped over 30% in pre-market trade to around $3.55, its highest level since January. Retail sentiment around the company on Stocktwits remained in ‘bullish’ territory over the past day, accompanied by ‘high’ levels of chatter.

The company estimated that initial investment would be around CAD $3.5 billion (USD $2.55 billion) and expects the campus to become operational in the second half of 2027.

HIVE Pushes Deeper Into AI Infrastructure

HIVE said BUZZ HPC acquired approximately 25 acres of land across two adjacent parcels near the Toronto-Waterloo innovation corridor for a combined CAD $58 million. The site benefits from a 320 MW power allocation and sits close to major Canadian AI research institutions, including the University of Toronto and the Vector Institute.

The company framed the project as part of a broader push to build “sovereign AI infrastructure” within Canada, allowing domestic AI developers and enterprises to run workloads locally instead of relying on foreign cloud providers.

“AI is the new industrial base and compute is the factory floor,” HIVE Executive Chairman Frank Holmes said in a statement. “Countries that own the machines will write the future.” At full scale, HIVE said the facility could become one of North America’s largest domestically controlled AI compute clusters.

From Bitcoin Mining To AI Cloud Computing

HIVE has steadily repositioned itself over the past year, moving from a business centered almost entirely around Bitcoin mining toward a hybrid model combining crypto operations with AI cloud services. The company has never announced a complete exit from Bitcoin mining, but management has increasingly emphasized AI infrastructure in public filings and interviews.

In March, HIVE described itself as being “in the middle of a big business-model shift,” sharing efforts to convert parts of its mining footprint into AI and HPC cloud infrastructure. A month later, the company launched a $115 million zero-interest convertible note offering aimed at funding GPU-based AI data centers using repurposed hydro-powered facilities previously tied to Bitcoin mining.

CEO Aydin Kilic later described the strategy publicly as a pivot “from Bitcoin mining to AI cloud computing,” while maintaining mining operations at scale. 

The company currently has around 481 BTC on its balance sheet down from 2,620 BTC peak last year. At Bitcoin’s current price of around $77,300, HIVE’s BTC balance comes up to around $37 million. 

Read also: Iran Reportedly Wants To Use Bitcoin To Protect The World's Most Critical Crude Oil Chokepoint

(Conversion rate: USD $1 = CAD $1.37)

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