HIVE · HIVE Digital Technologies Ltd.

HIVE Digital Technologies, through its wholly owned subsidiary BUZZ High Performance Computing Inc., has completed the acquisition of two adjacent land parcels in the Greater Toronto Area (GTA) totaling approximately 25 acres for a combined purchase price of $58 million. The site benefits from a 320 megawatt (MW) power allocation, forming the foundation for what the company describes as a sovereign AI gigafactory. This facility is expected to support fully vertically integrated AI supercomputers and host more than 100,000 GPUs at full build-out, with a target online date in the second half of 2027 and an estimated capital investment of approximately CAD $3.5 billion. The project is strategically located in the Toronto-Waterloo innovation corridor, leveraging proximity to leading AI research institutions such as the University of Toronto, Vector Institute, and Waterloo's engineering talent. Management emphasized that this investment is critical for Canadian AI sovereignty, allowing domestic compute on Canadian-controlled infrastructure. Executive Chairman Frank Holmes noted, 'Canada produced the Godfathers of deep learning but kept renting the factories. That era is over.' The acquisition adds to HIVE's existing power capacity of 850 MW globally, including 100 MW of operating data centers in Canada. This expansion underscores HIVE's pivot toward high-performance computing and AI, building on its legacy in Bitcoin mining. The company plans to deploy over 5,500 GPUs already online and expects the new site to bring significant long-term economic benefits, including over 800 construction jobs and hundreds of permanent high-skill roles.