HIVE Digital completes acquisition of 7.2 MW Toronto data center; shares climb

[Modern server room]
tiero

HIVE Digital Technologies (NASDAQ:HIVE [https://seekingalpha.com/symbol/HIVE]) announced the acquisition [https://seekingalpha.com/pr/20236436-hive-digital-technologies-completes-acquisition-of-7_2-mw-toronto-data-center-to-fuel-buzzs]of a 7.2 megawatt (MW) data center in Toronto, Canada, through its wholly owned subsidiary, BUZZ High-Performance Computing, sending shares up 8% in Thursday's premarket trading.

The Toronto facility will be upgraded from Tier 1 to Tier 3 standards, significantly expanding BUZZ's Canadian footprint and reinforcing its role as HIVE's dedicated platform for High-Performance Computing (HPC) and artificial intelligence growth.

This strategic acquisition positions BUZZ to address the growing demand for AI, machine learning, and enterprise cloud solutions with energy-efficient infrastructure, HIVE Digital (NASDAQ:HIVE [https://seekingalpha.com/symbol/HIVE]) said.

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