TheBlock
HIVE Digital Technologies saw its stock jump 35% after unveiling plans for a 320-megawatt AI gigafactory in Toronto, a project Executive Chair Frank Holmes says could eventually house more than 100,000 GPUs. The announcement marks one of the most ambitious AI infrastructure commitments from a crypto-native company to date.
The Toronto facility isn't a standalone pivot — it extends a deliberate infrastructure buildout that already includes GPU expansions in Paraguay and Sweden earlier this year. HIVE is methodically assembling a multi-continent AI compute footprint, repositioning itself from a crypto miner into a full-stack AI infrastructure operator.
For investors, the 35% single-session move reflects the market's read that large-scale, owned GPU capacity is a scarce and increasingly valuable asset — particularly as hyperscaler demand for inference compute continues to outpace supply.
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