HIVE Boosts Bitcoin Hashrate to 23 EH/s, Expands HPC Footprint with $1.6M Land Acquisition
HIVE has reached 23 EH/s of installed bitcoin hashrate while accelerating its high-performance computing strategy with $1.64 million acquisition of land in Canada.
HIVE said in a release on Monday that it has purchased 32.5 acres of additional land in Grand Falls, New Bruncstick, adjacent to its existing operations, for $CAD 2.3 million. The acquisition expands HIVE’s footprint in Atlantic Canada and sets the stage for what the company describes as its first Tier III+ AI and HPC data center in the region.
The Grand Falls site currently powers 70 megawatts (MW) of Bitcoin mining through an on-site 80 MW substation fully owned by HIVE. The company said the expanded property could host over 25,000 next-generation GPUs for AI and HPC workloads through its wholly owned subsidiary, BUZZ HPC.
“The Grand Falls campus represents the convergence of Tier I Bitcoin mining and Tier III+ HPC data centers,” said Craig Tavares, president and COO of BUZZ HPC. “Our goal is to build one of Canada’s most advanced renewable-powered AI data centers capable of hosting tens of thousands of GPUs.”
HIVE’s expansion in HPC follows similar moves by other miners repurposing existing infrastructure for AI demand. The company is also retrofitting its Boden, Sweden site into a liquid-cooled HPC facility and building out its Toronto BUZZ data center for AI operations slated for 2026. Together, HIVE projects roughly 36,000 GPUs across its global HPC portfolio once the Grand Falls conversion is complete.
At the same time, HIVE continues to expand its Bitcoin operations, supported by newly energized hydroelectric power bitcoin mines in Paraguay. The company reiterated that it expects to reach 25 EH/s by the U.S. Thanksgiving in late November.
