HIVE Digital has formalized the purchase of a data center of 7.2 megawatts located in Toronto, marking an important milestone in the development of its new subsidiary, BUZZ HPC and in AI.
This operation marks HIVE’s first direct investment in high-performance computing infrastructure dedicated to artificial intelligence.
The Toronto site is located in the heart of the main Canadian tech hub, which increases its strategic value.
HIVE’s stated goal is to ensure a strong presence for the growth of a sovereign AI infrastructure in Canada, leveraging the potential of advanced computing and digital storage capacity.
AI news: strategic acquisition by HIVE for the data center in Toronto
The data center will be updated to Tier 3 certification standards, which ensure high reliability and availability of the systems.
Particularly important is the project to implement a liquid cooling system, a cutting-edge technology that allows for efficient management of the heat produced by intensive workloads.
This will enable the support of high-performance machinery such as the 5,000 next-generation GPUs planned for installation.
The structure will serve as the first data center entirely owned and operated by BUZZ HPC, thus allowing complete control over the infrastructures and service quality.
Additionally, it will host large-scale AI training activities, inference, and cloud services dedicated not only to companies but also to government entities and academic institutions.
This operation reflects the rapid increase in the global demand for high-performance computing infrastructure necessary for artificial intelligence projects.
As a result, many data center operators who previously focused on crypto mining are repurposing their resources to ride the AI bull trend.
Thus, the acquisition of HIVE in Toronto marks a key step in the transformation towards more advanced computing services, highlighting the group’s willingness to be among the leading players in this emerging market.
Financial results and diversification beyond bitcoin mining
In the last nine months up to December, HIVE generated approximately 7.03 million dollars in revenue from HPC hosting.
This figure highlights the effectiveness of the business diversification strategy, which aims not to rely solely on bitcoin mining.
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The growth in the HPC sector is accompanied by a parallel enhancement of the group’s bitcoin mining activity.
From this perspective, HIVE has reached a hash capacity of over 11 EH/s (exahash per second), a measure that identifies the computational power dedicated to mining.
The significant expansion was made possible by the early completion of a large mining site in Paraguay.
HIVE’s goal is to accelerate further, aiming to reach 25 EH/s. It is interesting to note that the company plans to achieve this milestone by the end of November, coinciding with the Thanksgiving Day in the United States.
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In May, HIVE produced 139 bitcoin, corresponding to a computing capacity of 8.51 EH/s, with an increase of 32% compared to the previous month.
This data indicates a rapid and sustained expansion of mining activity, net of diversification on computing assets for AI.
The acquisition of the Toronto data center represents a turning point for HIVE, which not only strengthens its position in the bitcoin mining sector but decisively enters the emerging market of AI-dedicated infrastructure.
This occurs in a context where the demand for high-power computing systems continues to grow at a steady pace.
The Canadian site, with its advanced cooling features and hardware capabilities, represents a valuable asset for supporting training and research activities on artificial intelligence, especially for institutional and public clients.
In this way, HIVE creates value not only for private business, but also for the technological and governmental ecosystem.
Prospects and opportunities for operators and investors
The approach adopted by HIVE suggests a balanced strategy between the growth of blockchain technologies and the expansion towards high-performance computing services. This vision translates into an opportunity to capitalize on two complementary and expanding fronts.
Ultimately, the investment in the Toronto data center represents not only a technological enhancement but also a commercial and geopolitical one, fueling HIVE’s competitiveness in the global market.
The case of HIVE demonstrates how companies in the crypto sector are evolving their business model to include AI infrastructures, a market that promises to dominate technology in the coming years.
For operators and investors, this evolution opens up new opportunities for growth and portfolio diversification.
Keeping an eye on the expansion of data centers like the one in Toronto allows for the evaluation of the impact of AI technologies on an industrial scale, as well as the convergence between bitcoin mining and HPC.
As a result, it becomes crucial to follow these developments to promptly grasp the new trends of the global technology industry.
