Crypto firm Hive Digital has acquired a data center in Toronto, Canada, for HPC and AI uses.

The company this week announced the signing of a purchase and sale agreement to acquire a facility with 7.2MW of installed capacity.

Further details of the facility, the seller, and terms of the purchase were not shared.

Hive said the acquisition will support the development of a “sovereign Canadian AI ecosystem” through its wholly owned subsidiary, Buzz High Performance Computing Inc.

With its first owned and operated Tier III-quality facility, Buzz HPC says it will deploy liquid-cooled compute infrastructure to support sovereign workloads, including large-scale AI training, inference, and cloud services tailored for Canadian enterprises, government initiatives, and AI innovators. Once upgraded, the site will reportedly be able to support up to 5,000 GPUs.

“This acquisition positions Buzz HPC at the forefront of Canada’s digital infrastructure evolution,” said Craig Tavares, president and COO of Buzz HPC.

“Toronto is not only the largest city in Canada, but also the country’s most important center for higher education, AI research, and dense fiber optic connectivity. With the explosion of demand for HPC and AI compute capacity, this Toronto site gives us a critical footprint to develop a sovereign AI data center – owned and operated in Canada by a Canadian public company – ensuring data residency, security, and national innovation leadership.”

Hive was founded and went public in 2017. The crypto firm has mining sites in Canada, Sweden, and Paraguay.

Originally known as Hive Cloud, Buzz offers access to Nvidia H100s, A6000s, A5000s, A40s, and H200s. Its cloud currently totals 2.2MW of capacity across Stockholm, Sweden (800kW) and Montreal, Canada (1.4MW).

Aydin Kilic, President and CEO of HIVE, stated, “We enthusiastically take this next step forward to drive value for HIVE shareholders through BUZZ HPC. Craig Tavares has hit the ground running and is accelerating our vision to position HIVE and BUZZ HPC as leaders in Canada’s high-performance computing data center industry. His deep expertise and leadership are helping us seize this opportunity to build sovereign, Tier III liquid-cooled infrastructure that will power the next generation of AI and HPC workloads. With Craig at the helm of BUZZ HPC and the proven skill set of our team, we are confident in our ability to innovate and scale.”

In Canada, Hive currently has a 30MW mining operation in Lachute, Quebec, and a 70MW site in New Brunswick. The Lachute site reportedly uses its waste heat to warm a 200,000 sq ft factory making swimming pools. The company also operates a 32MW site in Boden, Sweden, and will soon heat a 90,000 sq ft (8,361 sqm) greenhouse growing tomatoes and cucumbers. In Paraguay, the company acquired a site in Yguazù from Bitfarms and has another 100MW facility in development in Valenzuela.

The crypto firm previously had around 10MW in operation in Iceland. However, according to SEC filings, the company cancelled its contracts at facilities in Blonduos and Keflavik in January and November 2024, respectively. It previously had plans to launch a site in Norway, but these were dropped in 2021.