This article comes from Theminermag, an industry publication of cryptocurrency mining, and focuses on the latest news and research on the institutional Bitcoin mining company.
Hive Digital has signed an agreement to acquire Toronto’s 7.2-Megawatt data center and marks its first infrastructure purchase under its new high-performance computing subsidiary, Buzz HPC.
In a press release Monday, Hive said the acquisition aims to establish a foothold for developing Sovereign Canada’s AI infrastructure, along with plans to deploy liquefaction systems to support advanced computational workloads.
Located in Canada’s largest high-tech hub, the Toronto facility will be upgraded to Tier 3 standards and house up to 5,000 next-generation GPUs. The site will serve as Buzz HPC’s first fully owned and operated data center, and will deploy subsidiaries to support large-scale AI training, inference and cloud services tailored to government, academic institutions and corporate clients.
The move reflects a growing trend in crypto-focused data center operators relocating AI-driven growth as global demand for high-performance AI computing infrastructures is surged.
Hive’s latest acquisition adds to the $7.03 million revenue generated from HPC hosting over the nine months ended December 31st as part of a broader effort to diversify beyond Bitcoin mining.
Meanwhile, Hive is also expanding its Bitcoin mining operations. The company recently surpassed the 11 EH/S mark after the early completion of the Paraguay site.
Currently, the company aims to accelerate its 25 EH/s target from the end of the year to the end of November, aligning the milestone with the US Thanksgiving holiday. Hive mined 139 BTC in May. This implied a realized hashrate of 8.51 EH/s, representing a 32% jump in realized computing capacity one month ago.
The original article can be found here.