HIVE stock rallies 35% after unveiling 320MW ‘AI gigafactory’ project in Toronto
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HIVE stock is rallying 35% after unveiling a 320MW 'AI gigafactory' project in Toronto, a significant expansion of its digital asset mining operations. The facility could eventually support more than 100,000 GPUs, positioning HIVE to capitalize on growing demand for artificial intelligence computing power, potentially boosting its market share in the cryptocurrency mining sector.
Hive Digital Executive Chair Frank Holmes said the facility could eventually support more than 100,000 GPUs.