HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE) has signed a deal to acquire a data center facility in Toronto with approximately 7.2 megawatts of installed capacity.
The company said the purchase, made through its wholly owned subsidiary BUZZ High Performance Computing Inc., will support large-scale AI training, inference, and cloud services aimed at Canadian enterprises, government programs, and researchers.
The facility will serve as BUZZ HPC’s first owned and operated Tier 3 data center.
"This acquisition positions BUZZ HPC at the forefront of Canada's digital infrastructure evolution," said Craig Tavares, president and COO of BUZZ HPC in a statement.
Tavares noted the importance of Toronto’s fiber optic connectivity and AI research ecosystem, adding that the facility would help ensure “data residency, security, and national innovation leadership.”
“With Craig at the helm of BUZZ HPC and the proven skill set of our team, we are confident in our ability to innovate and scale,” HIVE CEO Aydin Kilic told shareholders.
The move aligns with a broader trend toward building sovereign AI data centers, as global demand for compute infrastructure surges. HIVE said the site will be upgraded to support liquid-cooled next-generation GPUs and could eventually operate a GPU cloud of up to 5,000 chips.
“As HIVE continues to scale, so now does BUZZ announce its scale, launching our Canadian sovereign strategy,” said Frank Holmes, executive chairman of HIVE and BUZZ HPC.
The company also reiterated its commitment to sustainability, with plans to integrate green energy solutions into the facility.