HIVE's AI Data Center Capacity Quadruples, Targeting $200M Annual Revenue with BC Expansion
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HIVE Digital Technologies announced a significant 4x expansion of its liquid-cooled AI data center capacity through its BUZZ HPC subsidiary, growing from 4 MW to 16.6 MW across two Canadian provinces. This expansion includes an immediate 5 MW in British Columbia, with an option for an additional 7.6 MW, facilitating the deployment of over 4,000 next-generation GPUs near-term and a path to over 6,000 GPUs. This highly material development leverages a strategic data center partnership with Bell Canada AI Fabric and is notable as no additional capital expenditures are required to secure the expanded colocation capacity. The company targets $200 million in contracted annualized run-rate revenue (HPC ARR) by the end of its fiscal year (March 31, 2027) from these deployments, which is substantial relative to its current market capitalization. Traders will closely monitor the actual deployment of GPUs and the progress towards securing client contracts and achieving the ambitious revenue target.
At the time of this announcement, HIVE was trading at $2.12 on NASDAQ in the Technology sector, with a market capitalization of approximately $541M. The 52-week trading range was $1.26 to $7.84. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: TMX Newsfile.