HIVE Wins Approval to Buy 32 MW Sweden Data Center as AI Push Expands
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Key Takeaways
- Boden Municipal Council approved HIVE's acquisition of the 32 MW Big Boden data center.
- HIVE has invested $100 million in the region and paid $60 million in taxes since 2018.
- The facility will be upgraded to Tier III standards to support NVIDIA-powered AI and HPC workloads.
- The company is exploring heat recovery initiatives in Boden in partnership with the Research Institute of Sweden (RISE).
HIVE Digital (NASDAQ: HIVE) Technologies has received municipal approval to acquire the Big Boden data center in Sweden, a 32-megawatt facility the company has operated as a tenant for the past eight years.
The transaction, which was announced on Thursday and remains subject to customary closing conditions, would move HIVE from tenant to owner of the facility owned by Bodens Utvecklings AB. The company did not disclose financial terms.
The approval gives HIVE greater control over the future of a site it has operated for nearly eight years, as the company works to convert parts of its global data center portfolio for high-performance computing and artificial intelligence workloads. The Boden site is expected to be advanced toward Tier III infrastructure standards, a higher-redundancy design needed for enterprise AI and HPC customers.
HIVE said it has invested more than 960 million Swedish kronor, or about $100 million, in the Boden region through local contractors and renewable energy procurement since entering the municipality. It has also paid more than 575 million kronor, or more than $60 million, in taxes to the Swedish Tax Authority, according to the company.
