The Bitcoin miner-turned-AI infrastructure company is buying the Swedish facility it has operated since 2018, with plans to install 2,000 NVIDIA GPUs for AI workloads
HIVE Digital Technologies just bought the house it’s been renting for eight years. The Boden Municipal Council in northern Sweden has approved the company’s acquisition of the Big Boden data center, a 32 MW facility that HIVE has operated as a tenant since January 2018.
From tenant to owner, from mining to AI #
Over the past eight years, HIVE has invested more than 960 million SEK, roughly $100 million, into the local economy. It has also paid north of 575 million SEK, or $60 million-plus, in taxes to Swedish authorities.
The financial terms of the acquisition itself haven’t been disclosed, and the deal remains subject to customary closing conditions.
HIVE plans to upgrade the facility to support 2,000 NVIDIA GPUs dedicated to AI workloads. The work will be channeled through BUZZ, HIVE’s subsidiary focused on high-performance computing and AI infrastructure. The company is targeting Tier III+ certification for the site.
The bigger picture: HIVE’s pivot accelerates #
This acquisition is one piece of a multi-country infrastructure strategy that spans Canada, Sweden, and Paraguay. The Big Boden announcement came alongside news of a $220 million sovereign AI GPU contract. HIVE reported $297.8 million in revenue with 158% year-on-year growth.
HIVE trades on both the TSX and NASDAQ under the ticker HIVE.
What this means for investors #
Investors watching this space should pay attention to how quickly HIVE can deploy the 2,000 NVIDIA GPUs and begin generating AI revenue at the Swedish site. HIVE’s existing $220 million contract suggests demand is already in hand, but the conversion timeline from acquisition to operational AI data center will be the metric that matters most through fiscal 2026.
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