PANews reported on May 19th that, according to CoinDesk, Bitcoin mining company HIVE Digital Technologies purchased land in Toronto for $58 million to build an industrial-grade AI computing center, sending its stock price soaring by as much as 40% on Monday. The site will be developed through its subsidiary BUZZ High Performance Computing, and when fully equipped, it will support approximately 320 megawatts of capacity and over 100,000 GPUs, becoming one of Canada's largest computing "super factories."

Two weeks ago, HIVE raised $115 million to expand its global data center footprint and GPU capacity. The company is transitioning from pure Bitcoin mining to AI and high-performance computing, and currently has over 850 megawatts of power capacity globally, including 450 megawatts of operational data centers and 400 megawatts of reserve capacity expected to come online in 2027.