Share this article
HIVE Digital to Launch Canadian AI Data Hub With 7.2 MW Toronto Site Purchase
The site will host BUZZ HPC’s first liquid-cooled Tier 3 facility supporting AI training and cloud workloads.
Jun 23, 2025, 4:37 p.m.
What to know:
- HIVE Digital Technologies plans to acquire a 7.2-megawatt data center in Toronto to develop AI infrastructure through its subsidiary BUZZ HPC.
- The facility will be upgraded to support liquid cooling and host up to 5,000 GPUs for AI model training and inference.
- This acquisition marks BUZZ HPC's first major step into operating its own facility, as HIVE shifts focus from crypto mining to AI and cloud services.
HIVE Digital Technologies (HIVE) has signed an agreement to buy a 7.2-megawatt data center in Toronto, Canada, aiming to transform it into a cornerstone for artificial intelligence (AI) infrastructure through its subsidiary BUZZ HPC.
The facility is expected to become BUZZ HPC’s first Tier 3 data center. It will be upgraded to support liquid cooling and host up to 5,000 next-generation GPUs, enabling large-scale AI model training and inference. The company says the infrastructure will also support Canadian enterprise and government workloads, reinforcing the country's digital sovereignty.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
“With the explosion of demand for HPC and AI compute capacity, this Toronto site gives us a critical footprint to develop a sovereign AI data center — owned and operated in Canada by a Canadian public company — ensuring data residency, security, and national innovation leadership,” said Craig Tavares, president and chief operating officer of BUZZ HPC.
The move comes amid a global race to build national AI infrastructure, with countries vying for compute capacity to keep up with the breakneck pace of generative AI development.
The acquisition also signals BUZZ HPC’s first major step into operating its own facility. HIVE, which started as a crypto mining company, continues to shift toward AI and cloud services, with a particular focus on renewable-powered infrastructure.
Other bitcoin miners such as Core Scientific (CORZ) have similarly diversified into the AI sector to boost their revenue stream.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
Top Stories
