HIVE Digital Technologies Ltd. (NASDAQ:HIVE) is one of the 8 Best Small Cap Data Center Stocks to Buy. On May 8, HIVE announced that its wholly owned subsidiary, BUZZ High Performance Computing, has contracted a new fiber optic network overbuild and an upgrade of the carrier transport network at its Grand Falls Data Center in New Brunswick.
The company said the estimated capital commitment from HIVE will be approximately $3.1 million for a period of five years. HIVE emphasized that this is a critical infrastructure step to advance the HIVE New Brunswick campus to a Tier III HPC-enabled data center.
Currently, Grand Falls is already energized at 70 MW gross load, HIVE noted, adding that buildings and core electrical infrastructure are in place. It added that BUZZ is converting the site into a 50 MW Tier III+ AI factory designed for enterprise, government, and sovereign AI workloads.
HIVE and BUZZ Executive Chairman Frank Holmes emphasized that AI is the new industrial race. He added:
“Countries that build sovereign AI factories will raise their productivity and security through data sovereignty, ensuring data doesn’t leave the countries’ borders, providing those nations greater data IQ. Countries that do not have their own sovereign AI infrastructure will depend on foreign infrastructure and thus rent intelligence from others.”
Holmes said the fiber overbuild is the superhighway that moves that intelligence to customers. He further said:
“Power plus fibre plus GPUs equals an AI factory. New Brunswick has the chance to become one of Canada’s most important AI infrastructure hubs. We are flourishing in the AI token economy, and our vision is to consume electrons and export tokens. The vision is to turn Canadian power into Canadian AI tokens of intelligence.”
HIVE Digital Technologies Ltd. (NASDAQ:HIVE) builds and operates next-generation Tier-I and Tier-III data centers across Canada, Sweden, and Paraguay, serving both Bitcoin and high-performance computing clients. The company’s twin-turbo engine infrastructure, driven by hashrate services and GPU-accelerated AI computing, delivers scalable, environmentally responsible solutions for the digital economy.
While we acknowledge the risk and potential of HIVE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than HIVE and that has 10,000% upside potential, check out our report about this cheapest AI stock.
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