Storyline
Hive Digital Technologies plans $2.55 billion AI super factory in Toronto, shares surge
Hive Digital Technologies, traditionally a Bitcoin mining company, announced plans to build a 320 MW AI data center in Toronto, dubbed an 'AI gigafactory.' The project, valued at CAD 3.5 billion (approximately $2.55 billion USD), will host over 100,000 GPUs.
Published 2026-05-18 14:09 UTCUpdated 2026-05-18 21:00 UTC
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Evidence trail (top sources)
top sources (4 domains)domains are deduped. counts indicate coverage, not truth.4 top sources shown
Overview
Hive Digital Technologies, traditionally a Bitcoin mining company, announced plans to build a 320 MW AI data center in Toronto, dubbed an 'AI gigafactory.' The project, valued at CAD 3.5 billion (approximately $2.55 billion USD), will host over 100,000 GPUs.
Score total
1.89
Momentum 24h
6
Posts
6
Origins
4
Source types
2
Duplicate ratio
33%
Why now
- Hive recently raised $115 million to fund its AI expansion, enabling the Toronto land purchase.
- The announcement triggered a significant stock price rally, marking a key moment for the company.
- The project aligns with increasing demand for AI computing power, highlighting market timing.
Why it matters
- Hive's move signals growing convergence between crypto mining and AI infrastructure sectors.
- The large-scale AI facility could diversify Hive's revenue beyond Bitcoin mining.
- Investor enthusiasm reflects confidence in Hive's strategic pivot to AI data centers.
Continuity snapshot
- Trend status: insufficient_history.
- Continuity stage: broad_confirmed.
- Current status: open.
- 6 current source-linked posts are attached to this storyline.
All evidence
All evidence
HIVE soars over 35% on plans for $2.55b Toronto AI ‘super factory’
Crypto.News · crypto.news · 2026-05-18 21:00 UTC
Hive Shares Hit Highest Price This Year After Bitcoin Miner Unveils Ontario 'AI Gigafactory'
Decrypt · decrypt.co · 2026-05-18 16:48 UTC
HIVE buys $58 million Toronto plot for AI facility; shares climb
CoinDesk · coindesk.com · 2026-05-18 15:32 UTC
HIVE stock rallies 35% after unveiling 320MW ‘AI gigafactory’ project in Toronto
the_block_crypto · theblock.co · 2026-05-18 14:09 UTC
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