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HIVE Digital Technologies ( (TSE:HIVE) ) has issued an update.
On May 18, 2026, HIVE Digital Technologies, through its subsidiary BUZZ High Performance Computing, announced a major infrastructure investment in Ontario centered on a planned AI “gigafactory” in the Greater Toronto Area with about 320 MW of utility capacity. BUZZ has acquired roughly 25 acres of contiguous land for $58 million, securing a 320 MW power allocation to support fully vertically integrated AI supercomputers capable of hosting more than 100,000 GPUs at full build-out.
The project, targeted to come online in the second half of 2027, is expected to require about CAD $3.5 billion in capital, create over 800 construction jobs and hundreds of permanent high-skill roles, and leverage Ontario’s clean electricity grid with closed-loop, no-water cooling systems. HIVE executives say the GTA facility, part of a global footprint now totaling over 850 MW of power capacity and a pipeline to support about 130,000 GPUs, will anchor a sovereign AI infrastructure network across multiple Canadian provinces, potentially enhancing Canada’s competitiveness in AI and strengthening domestically controlled compute capacity for enterprise, research and public sector applications.
The most recent analyst rating on (TSE:HIVE) stock is a Hold with a C$3.00 price target. To see the full list of analyst forecasts on HIVE Digital Technologies stock, see the TSE:HIVE Stock Forecast page.
Spark’s Take on HIVE Stock
According to Spark, TipRanks’ AI Analyst, HIVE is a Neutral.
Overall score reflects a solid balance sheet and growth trajectory (including upbeat HPC/GPU guidance), offset by weak/volatile profitability with deeply negative free cash flow and a clearly bearish technical setup (price below all key moving averages with negative momentum indicators).
To see Spark’s full report on HIVE stock, click here.
More about HIVE Digital Technologies
HIVE Digital Technologies is a digital assets and high-performance computing company that builds and operates next-generation Tier-I and Tier-III data centers across Canada, Sweden and Paraguay. Founded in 2017 with a focus on green-powered Bitcoin mining, it now serves both cryptocurrency and GPU-accelerated AI computing clients, positioning itself as a globally diversified, environmentally focused infrastructure provider for the digital economy.
Its wholly owned subsidiary, BUZZ High Performance Computing, is an NVIDIA Cloud Partner delivering enterprise-grade cloud services and large-scale GPU clusters from vertically integrated, renewable-powered data centres. BUZZ operates across multiple continents as a Canadian sovereign AI platform, offering managed services for AI, machine learning and scientific workloads while emphasizing ultra-low power usage effectiveness and sustainability.
Average Trading Volume: 2,114,497
Technical Sentiment Signal: Hold
Current Market Cap: C$952.5M
Learn more about HIVE stock on TipRanks’ Stock Analysis page.