HIVE stock rallies 35% after unveiling 320MW ‘AI gigafactory’ project in Toronto
The Block
HIVE Digital shares surged 35% following the announcement of a $2.55 billion, 320MW AI infrastructure gigafactory project in Toronto.Summary
HIVE Digital saw its stock price climb over 35% after announcing plans to build a 320-megawatt AI "gigafactory" in the Greater Toronto Area. The project, led by its subsidiary BUZZ High Performance Computing, is estimated to cost $2.55 billion and aims to host over 100,000 GPUs by its 2027 launch. This development marks a significant strategic pivot for the former bitcoin miner as it expands its focus from cryptocurrency mining toward high-performance computing infrastructure.
(Source：The Block)