HIVE Digital expands into AI with a green data center in Canada

HIVE Digital Technologies ( lists on Nasdaq ) announces a strong expansion of AI and high-performance computing ( HPC ) by purchasing a 13.1-hectare plot of land in Grand Falls, New Brunswick worth 1.7 million USD to build a campus data center using renewable energy.

The new facility, located next to the company's current 2.4 ha plot, will be HIVE's first Tier III+ center in Atlantic Canada, designed to operate over 25,000 GPUs, leveraging the abundant hydroelectric power near the US border.

Executive Chairman Frank Holmes stated that HIVE is “accelerating the transition from Bitcoin mining to AI and HPC data centers,” leveraging renewable energy and existing infrastructure to meet the computing needs of major technology corporations.

In addition to HIVE, many other Bitcoin mining companies such as Canaan are also converting excess energy to serve AI centers.

This move comes amid a large-scale AI investment wave, as IREN and Cipher Mining have just signed cloud storage agreements worth 9.7 billion USD and 5.5 billion USD with Microsoft and Amazon Web Services, respectively. In total, these contracts add nearly 15 billion USD in AI infrastructure capacity in just one day.

CEO Aydin Kilic stated that HIVE's “dual engine” model — using Bitcoin mining profits to fund AI infrastructure — will create a “positive feedback loop,” strengthening network security while meeting the growing demand of the AI economy.