HIVE Commits $3.1M to Fibre Network for 50MW Tier III+ AI Factory
HIVE•HIVE will invest $3.1M over five years to build a fibre network at Grand Falls Data Centre in New Brunswick, advancing conversion into a 50MW Tier III+ AI factory with 100Gbps and 400Gbps wavelength services. Funding comes from a $115M zero-percent exchangeable note, with delivery starting in Q3 2026.
1. Fibre Network Overbuild and Upgrade
HIVE, through its BUZZ subsidiary, has contracted a fibre optic overbuild and carrier transport network upgrade at the Grand Falls Data Centre in New Brunswick. The upgrade will deliver dedicated high-capacity optical wavelength services including multiple 100 Gbps and 400 Gbps connections to support sovereign and enterprise AI workloads.
2. Funding and Delivery Timeline
The project entails a US$3.1 million capital commitment over five years, financed by proceeds from HIVE’s US$115 million zero-percent exchangeable note issuance. Delivery of the fibre connections is scheduled to begin in Q3 2026, with additional capital outlays by the Canadian carrier partner.
3. Advancement to Tier III+ AI Factory
Grand Falls is already energized at 70 MW gross load and is being converted into a 50 MW Tier III+ AI factory. This infrastructure supports HIVE’s plan to double its GPU AI cloud capacity from 5,500 to 11,000 GPUs and expand its HPC colocation offerings for enterprise, government and sovereign clients.
