Through its subsidiary Buzz High Performance Computing, the Vancouver-founded bitcoin miner turned data-centre operator has spent $58 million assembling about 10 hectares of land between Toronto and Waterloo, Ont., and plans to spend $3.5 billion building a data centre on it to provide “sovereign AI infrastructure that turns Canadian intelligence into Canadian dominance” by the end of 2027. (The Logic)

Talking point: Its announcement stopped short of promising Buzz has locked in a supply of electricity to power the facility ($3.5 billion would also be nearly six times the parent company’s assets as of the end of 2025). For a sense of scale, on Tuesday, the Ontario government touted the completion of a battery storage site that will charge when power is cheap and feed back to the grid at peak times—a $600-million project with a 250-megawatt capacity. The province says it will favour data-centre projects that will contribute to its economy beyond construction, but hasn’t been flooded with proposals. Though mining bitcoin is still its main business, Hive shifted toward operating data centres for others in 2023.