HIVE Expands Canadian AI Data Centers to 16.6 MW, Targets $200M HPC ARR
HIVE’s BUZZ subsidiary expanded liquid-cooled AI data center capacity in Canada from 4 MW in Manitoba to 16.6 MW across Manitoba and British Columbia, adding 5 MW immediately and an option for 7.6 MW in 2027. The firm targets deployment of over 6,000 next-gen GPUs and $200 million in HPC ARR.
1. Capacity Expansion
HIVE’s BUZZ HPC increased Canadian liquid-cooled AI capacity from 4 MW in Manitoba to a total of 16.6 MW across Manitoba and British Columbia, adding 5 MW of immediate capacity in BC and securing an option for 7.6 MW in 2027 without further capital expenditures.
2. GPU Deployment Targets
The expansion supports immediate deployment of approximately 2,000 next-generation high-power-density GPUs in British Columbia, complements the existing 504 GPUs in Manitoba, and creates a growth path to over 6,000 GPUs across Canada through partnership and own sites.
3. Financial Outlook
The company aims for $200 million in annualized HPC revenue run-rate by March 31, 2027, with new GPU contracts targeting 75% HPC EBITDA margins, leveraging 2025 deposits to secure the full expansion pipeline without additional capital investment.
4. Strategic Significance
By expanding its Sovereign AI Compute footprint in Western Canada, HIVE positions itself to capture growing enterprise and government demand for AI infrastructure, enhancing its dual-engine model of high-margin AI compute alongside Bitcoin mining cash flows.