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

Odaily Odaily Planet Daily News HIVE plans to build a 320-megawatt AI infrastructure base in the Greater Toronto Area. When fully built out, this facility can accommodate over 100,000 GPUs and is expected to 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 spent approximately $42 million to purchase about 25 acres of land and secure a power supply. Additionally, HIVE CEO Aydin Kilic stated that the company's total global power capacity across operating facilities and future projects now exceeds 850 megawatts. (theblock)