HIVE's BUZZ HPC Expands Data Center Footprint into British Columbia with 4 Times Growth in Liquid-Cooled AI Data Center Capacity
Executive Summary
- HIVE Digital Technologies announced a 4‑fold expansion of its liquid‑cooled AI data‑center capacity in Canada, increasing critical IT load from 4 MW to 16.6 MW across Manitoba and British Columbia.
- The expansion supports deployment of over 4,000 next‑generation AI‑optimized GPUs in the near term and a growth path to more than 6,000 GPUs by 2027, targeting $200 million in contracted annualized run‑rate revenue (HPC ARR) by fiscal year ending March 31 2027.
- No additional capital expenditures are required; existing deposits from 2025 secure the full pipeline, and HIVE also disclosed a new RSU grant of 2,849,400 units to align employee incentives.
Key Details
- Capacity Increase:
- Manitoba – existing 4 MW (504 GPUs deployed, ~1 MW used) with 3 MW remaining for ~1,500 additional GPUs.
- British Columbia Phase 1 – immediate 5 MW supporting ~2,000 GPUs.
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British Columbia Phase 2 – option for an additional 7.6 MW (≈3,000 GPUs) in 2027.
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Total GPU Deployment Path: Near‑term ramp to >4,000 GPUs; long‑term runway to >6,000 GPUs across Canada.
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Revenue Targets:
- $200 million contracted HPC ARR by fiscal year end March 31 2027.
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Targeting 75% HPC EBITDA on new long‑term GPU contracts with enterprise clients.
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Capital Allocation: No new capex required; 2025 deposits with Bell Canada AI Fabric secure the expansion. Ongoing operational costs for GPU procurement, installation, and data‑center ops remain standard business expenses.
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Strategic Partner: Bell Canada AI Fabric (strategic data‑center partner) provides colocation footprint across two western provinces.
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Future Expansion Options:
- Additional 7.6 MW capacity in British Columbia available in 2027.
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Potential further GPU deployments through other partner or owned data centers, aiming for a total of 6,000 GPUs in Canada.
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European Operations Update: Ongoing conversion of the 7 MW Boden, Sweden facility to Tier‑III AI/HPC standards; phase‑down of ASIC‑based Bitcoin mining due to regulatory and tax uncertainties.
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RSU Grants: 2,849,400 Restricted Share Units awarded to employees, officers, directors, and consultants with a one‑year vesting period on the TSX Venture Exchange.
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Management Comments:
- Frank Holmes (Executive Chairman) highlighted Canada’s strategic advantage for sovereign AI compute.
- Aydin Kilic (President & CEO) emphasized secured capacity, near‑term GPU deployment schedule, and confidence in achieving ARR targets.
Notable Quotes
“This expansion gives us committed liquid‑cooled data center capacity across two provinces, and a clear path to over 6,000 next‑generation AI‑optimized GPUs in Canada.” – Aydin Kilic, President & CEO
“Nations that control their own AI compute will lead the next era of global innovation… This expansion with Bell is a statement of conviction.” – Frank Holmes, Executive Chairman