Bitcoin miner Hive Digital Technologies announced on May 19 that its subsidiary Buzz High Performance Computing plans to build a 320 megawatt (MW) “AI superfactory” in the Greater Toronto area in Ontario, Canada, with a total investment of about C$3.5 billion. After the news release, Hive’s share price rose about 26% on the day.
Confirmed Specifications for the Ontario Facility
According to Hive’s official announcement:
Subsidiary: Buzz High Performance Computing
Location: Greater Toronto area in Ontario, Canada
Installed Capacity: 320 megawatts (MW)
Power-equivalent for households: can meet the electricity needs of at least 200k typical households
GPU Support: about 130k GPUs
Global capacity impact: increases Hive’s total global installed device capacity from the current 450 MW to 850 MW
Expected production start: second half of 2027
Total investment: about C$3.5 billion (about $2.55 billion)
Cooling system: closed-loop cooling system (water-saving design)
Share Price Performance and Trading Confirmation Data
Confirmed by Yahoo Finance data:
Monday trading price: about $3.39, up about 26% from the previous day
Intra-day high: $3.92 (shortly before Monday’s open)
Year-to-date gain: when it reached the intra-day high, the year-to-date gain temporarily exceeded 35%
Hive Business Transition: Confirmed Financial Figures
Hive began transitioning from pure bitcoin mining to a broader business starting in 2022. Based on quarterly financial data confirmed for the period ended December 31, 2025:
Digital asset mining revenue: $88.2 million ( $26.6 million in the same period last year )
High-performance computing (HPC) revenue: $4.8 million ( $2.5 million in the same period last year )
Bitcoin holdings as of December 31, 2025: 481 BTC (valued at about $36.7 million when Bitcoin was around $76,300)
Bitcoin holdings one year earlier: 2,805 BTC
Frank Holmes’ Confirmed Statement
In the announcement statement, Hive and Buzz’s Executive Chairman Frank Holmes said the move is intended to “accelerate Canada’s technology prosperity, provide autonomous AI infrastructure, and turn Canada’s intelligence into Canada’s leadership position.”
FAQ
How does Hive’s Ontario AI facility relate to its existing business?
According to Hive’s official announcement, once the 320 MW facility is built, it will increase Hive’s total global installed device capacity from the current 450 MW to 850 MW and can support about 130k GPUs. Hive has been transitioning since 2022 from pure bitcoin mining to AI and high-performance computing.
Why is the facility called “sovereign AI infrastructure”?
According to Hive’s announcement, the facility is positioned as “sovereign AI infrastructure,” aiming to keep data and processing capabilities within Canada, promoting domestic technological leadership rather than relying on facilities outside the country.
What changes have occurred in Hive’s Bitcoin holdings over the past year?
According to Hive’s financial report, as of December 31, 2025, Hive’s Bitcoin holdings were 481 BTC (about $36.7 million), down significantly from 2,805 BTC a year earlier, indicating the company is shifting resources from Bitcoin reserves to AI infrastructure investment.
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