HIVE announces construction of a 320MW AI superfactory in Toronto, stock price surges over 35% at market open

Odaily Odaily reports that HIVE plans to build a 320-megawatt AI infrastructure base in the Greater Toronto Area, which can accommodate over 100,000 GPUs at full capacity, with an expected launch in the second half of 2027. The estimated construction cost of the project is approximately $2.55 billion, and it will serve as an industrial-grade data center for training and running AI models.

Currently, its subsidiary BUZZ has already spent about $42 million to acquire approximately 25 acres of land and secure the power supply. Additionally, HIVE CEO Aydin Kilic stated that the company's total global power capacity across its operating facilities and future projects now exceeds 850 megawatts. (theblock)