Instead of mining Bitcoin, make money with AI! Mining company HIVE announces a $2.5 billion investment to build an AI supercomputing center, with stock price soaring over 35%.

Bitcoin mining companies turn to transformation and surge! Digital infrastructure company HIVE announces a $2.55 billion investment to build a 320-megawatt (MW) “AI superfactory” in Canada, capable of housing over 100k GPUs. Driven by this major bullish news, HIVE’s stock soared over 35% at Monday’s market open.
(Background recap: Transitioning to AI for big profits! Bitcoin miner Hut 8 signs a $9.8 billion mega-contract, with its stock skyrocketing 33% in a single day to hit a record high)
(Additional background: Tether announces the creation of the “Bitcoin Berkshire”: its subsidiary 21 Capital announces merging Strike and miner Elektron, with XXI rising 8% intraday)

From a successful transition from Bitcoin mining to a digital infrastructure company, HIVE is leveraging its advantages in energy and data center sectors to rise strongly in the AI computing race.

According to the latest news, HIVE announced a massive plan to build “sovereign AI gigafactories” in the Greater Toronto Area, Canada. This ambitious expansion blueprint immediately ignited enthusiasm among Wall Street investors, causing HIVE’s stock to surge over 35% at Monday’s market open.

Invest $2.5 billion to build a 320MW massive computing center

This project, called the “AI superfactory,” will be led by HIVE’s high-performance computing subsidiary BUZZ High Performance Computing. According to official project details, this will be one of the largest AI infrastructure facilities in Canada:

• Scale of construction: Planning to build a 320 megawatt (MW) AI infrastructure park.
• Capacity: Once completed, it will accommodate over 100,000 GPUs, providing industrial-grade computing power for training and running AI models.
• Estimated cost: Up to 3.5 billion CAD (approximately $2.55 billion USD).
• Expected launch: Targeted to be operational by late 2027.

Currently, BUZZ has invested about 58 million CAD (around 42 million USD) to acquire approximately 25 acres of land and has secured power access rights for the site.

HIVE Executive Chairman Frank Holmes boldly declared in a statement: “AI is the new industrial foundation, and computing power is the factory. Canada nurtures the godfather of deep learning, but in the past, it was always about ‘renting’ factories. That era is over.”

Miner’s Glamorous Turnaround: Fully Embracing AI and HPC

HIVE’s mega project marks a recent milestone in its active shift away from traditional Bitcoin mining toward AI and high-performance computing (HPC) infrastructure.

To raise substantial funds for AI deployment, HIVE just completed a $75 million convertible bond issuance last month, specifically for purchasing GPUs and expanding data centers. Additionally, in March this year, the company announced the gradual shutdown of its ASIC Bitcoin mining operations in Boden, Sweden, transforming the site into an AI-focused data center, while also deploying GPU clusters in Asunción, Paraguay.

HIVE CEO Aydin Kilic emphasized that, combining current operational facilities with future expansion projects, the company’s total global power capacity has exceeded 850 MW. This transformation trend is not limited to HIVE; as AI computing demand surges, other North American mining giants like Riot Platforms and TeraWulf are also accelerating their data center and HPC expansions, aiming to seize a share in the AI gold rush.