Bitcoin mining company HIVE targets $200 million revenue with new AI expansion

Neo

March 16, 2026 2 min read

HIVE
BTC-USD

HIVE Digital Technologies is making a massive move to cement its position in the artificial intelligence sector.

The company just announced a four-times expansion of its AI data center capacity in Canada.

Working through its subsidiary, BUZZ HPC , HIVE is growing its power load from 4 megawatts to 16.6 megawatts.

This move supports the rising demand for "Sovereign AI," a concept focused on keeping a nation’s data infrastructure within its own borders.

Expanding the Western Canadian runway

The expansion introduces a new facility in British Columbia, joining an existing site in Manitoba.

This new location provides 5 megawatts of power immediately, with an option to add another 7.6 megawatts in 2027.

This added capacity allows for the deployment of 2,000 next-generation AI chips (GPUs). When combined with other sites, HIVE is on a path to running over 6,000 GPUs.

The company is also highlighting other strategic assets, including a massive 70 megawatt site in New Brunswick and a 7.6 megawatt site near the Toronto Airport, which are attractive for government or military use.

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Financial targets and strategic growth

HIVE is targeting $200 million in yearly contracted revenue by March 31, 2027.

For new long-term contracts, the company is aiming for a 75% profit margin (EBITDA).

Importantly, HIVE does not need to spend new capital to secure this space, as deposits made in 2025 cover the expansion.

"Canada has the talent, the energy, and now the infrastructure to compete at the highest level,"said Frank Holmes, Executive Chairman of HIVE.

CEO Aydin Kilic added that enterprise demand is strong, with clients seeking three-year and five-year deals.

The strategic shift in Sweden

HIVE is also pivoting its strategy in Europe.

The company is phasing out Bitcoin mining in Boden, Sweden, following tax disputes with local authorities. Instead, HIVE is upgrading its Swedish facility into a high-level AI data center.

This site will support advanced NVIDIA GB300 chips, designed for complex AI training. This ensures HIVE remains a major contributor to the region’s technological growth.

To keep the team focused on long-term value, HIVE is granting over 2.8 million Restricted Share Units.

These units are shared with employees from Paraguay to Sweden, ensuring everyone is working toward the same goal of sustainable growth and innovation.

This story was originally published by TheStreet on Mar 16, 2026, where it first appeared in the Innovation section. Add TheStreet as a Preferred Source by clicking here.