Hive Digital Technologies said it has contracted a new fibre optic network overbuild and carrier transport upgrade at its Grand Falls data centre in New Brunswick, a move it says is needed to convert the site into a Tier III HPC-enabled campus.
The company put the estimated capital commitment at about $3.1 million over five years. It said the project is being funded alongside proceeds from its $115 million 0% exchangeable note issuance.
Grand Falls is already operating at 70 MW gross load, with buildings and core electrical infrastructure in place. Hive’s Buzz subsidiary is aiming to turn it into a 50 MW Tier III+ AI factory for enterprise, government and sovereign AI workloads.
On the network side, Buzz said it is upgrading the site with dedicated high-capacity optical wavelength services, including multiple 100 Gbps and 400 Gbps connections. Delivery is expected to start in Q3 2026.
Hive also said its GPU AI cloud offering will double this year from 5,500 GPUs to 11,000 GPUs.
Buzz highlighted a 32-acre expansion path at Grand Falls and said the site is being prepared as one of Canada’s largest sovereign AI campuses. As a result of these announcements, the company's shares have moved -6.28% on the market, and are now trading at a price of $2.821. If you want to know more, read the company's complete 8-K report here.
