HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE) announced that BUZZ High Performance Computing (BUZZ HPC), its wholly owned subsidiary, has acquired a 7.2-megawatt (MW) data centre site in the Greater Toronto Area (GTA).
The multinational digital infrastructure company said the site will form the foundation of a new Tier III+ data centre built specifically for artificial intelligence (AI) workloads.
In consideration for the acquisition, HIVE paid the vendor C$12 million plus 1 million HIVE common shares, issued at a deemed price of C$5.25 per share, for a total acquisition price of C$17.25 million.
HIVE said the site will also support BUZZ HPC's recently announced partnership with Bell Canada and its Bell AI Fabric ecosystem, expanding access to sovereign accelerated compute infrastructure nationwide.
"Together with the Bell AI Fabric partnership, the new data center will provide the power and infrastructure needed to support Canadian research, business innovation, and secure, high-performance deployments," BUZZ HPC president Craig Tavares said in a statement.
"Whether through colocation services or direct access to our accelerated compute clusters, our customers and partners will benefit from infrastructure designed for scalability, reliability, and data sovereignty."
HIVE noted the facility will serve dual purposes: offering colocation services to enterprises, institutions, and governments seeking sovereign data infrastructure, and deploying BUZZ HPC's own accelerated compute clusters to support high-performance AI development and deployment.
As well, HIVE said the facility will leverage Ontario's clean electricity grid and deploy liquid-cooling systems capable of supporting graphics processing unit (GPU) racks of 150 kW and higher.
The design enables hosting of the most advanced GPU clusters, optimized for high-density AI training, fine-tuning, and inference, according to the company.