HIVE Digital Technologies is stepping up its shift from bitcoin mining to artificial intelligence (AI) and high-performance computing (HPC) infrastructure, announcing the purchase of a 32.5-acre site in Grand Falls, New Brunswick, for $1.7 million. The Nasdaq-listed company plans to transform the site into a renewable-powered data center campus dedicated to AI workloads.
The new property sits next to HIVE’s existing six-acre facility and will house its first Tier III+ data center in Atlantic Canada — a standard known for high reliability and continuous uptime. Once completed, the facility will be capable of hosting more than 25,000 GPUs and will be powered primarily by local hydroelectric resources near the Maine border.
Transitioning From Bitcoin to AI Compute
“HIVE is turbocharging the transition from bitcoin mining to AI HPC data centers,” said Executive Chairman Frank Holmes.
He noted that the company is leveraging stranded renewable energy and existing mining infrastructure to create hyperscale-ready computing environments.
Other mining firms are making similar pivots. Companies like Canaan have also begun converting unused or flared energy into compute capacity suited for AI and cloud processing — a trend gaining momentum as global demand for data processing soars.
Riding the Wave of AI Infrastructure Growth
HIVE’s expansion follows a surge of major AI infrastructure announcements across the mining sector. On the same day, Cipher Mining and IREN revealed cloud-hosting deals worth $5.5 billion and $9.7 billion with Amazon Web Services and Microsoft, respectively. Combined, these agreements signal nearly $15 billion in new AI capacity contracts — a shift that VanEck’s head of digital assets research, Matthew Sigel, described as “AI rewiring the global energy stack.”
CEO Aydin Kilic said HIVE’s “dual-engine” business model — using bitcoin-mining revenues to fund AI and HPC development — creates a self-sustaining system.
“It’s a virtuous loop,” Kilic explained, “where digital asset mining supports the infrastructure needed to power the AI economy.”
HIVE Digital Technologies Ltd.Looking Ahead
As AI continues to reshape the global data landscape, HIVE’s strategy of blending cryptocurrency operations with renewable-powered computing gives it a unique position in the evolving market. The company’s stock traded around $5.18 on Monday morning, up more than 200% over the past six months, reflecting growing investor confidence in its AI-focused transition.
By turning renewable resources into next-generation compute power, HIVE Digital is positioning itself at the intersection of green energy, blockchain, and artificial intelligence — a convergence that could define the next phase of digital infrastructure.
