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matthew sigel reports that HIVE has announced plans for a new 320MW AI factory in Greater Toronto. The facility is expected to become one of Canada’s largest, housing over 100,000 GPUs at full scale.
According to sigel, HIVE has secured 25 acres of land for more than $46 million, with a projected total capital investment of CAD $3.5 billion. The company aims to have the factory online in the second half of 2027.
Recent coverage by Sigel noted that NBIS climbed 12% pre-market after reporting strong Q1 adjusted EBITDA and higher power guidance. In another update, he reported on mixed after-hours stock movements for CRWV, XYZ, BILL, and MELI following their earnings releases. These reports come as companies in the space adjust to shifting operational and investment priorities.