HIVE Digital acquires 32 MW Swedish data center after 8 years as tenant

HIVE Digital Technologies (Nasdaq: HIVE) is turning astir a decennary of renting abstraction successful bluish Sweden into imperishable ownership. 

The institution announced connected June 18 that the Boden Municipal Council has approved its acquisition of the Big Boden 32 MW information halfway from Bodens Utvecklings AB, the aforesaid installation that has anchored HIVE's Swedish operations since 2018.

The determination takes HIVE from tenant to owner, giving the institution afloat power implicit the site's aboriginal and converting what began arsenic a concern statement into a semipermanent committedness to the region.

Related: Why AI capitalist Aschenbrenner is shorting Nvidia, buying HIVE

8 years, $100 million, and a hockey rink

HIVE's beingness successful Boden is not conscionable astir servers and powerfulness cables. 

Over 8 years, the institution has invested much than 960 cardinal SEK (around $100 million) successful the Boden portion done section contractors and renewable vigor procurement. 

It has besides paid much than 575 cardinal SEK (over $60 million) successful taxes to the Swedish Tax Authority.

Beyond the equilibrium sheet, HIVE sponsors the Boden Hockey League, supporting 12 younker teams and the club's recently established women's teams. It is besides the naming spouse of HIVE Arena. 

The institution is moving alongside Boden Municipality and the Research Institute of Sweden to research whether vigor generated by the information halfway tin beryllium redirected for broader assemblage use, an inaugural that would crook vigor infrastructure into a civic asset.

Johanna Thörnblad, Country Site President for Sweden astatine HIVE, said the acquisition reflects the company's semipermanent intentions successful the country.

"We chose Boden successful 2018 due to the fact that the municipality understood, earlier astir did, what sustainable integer infrastructure could look like. This acquisition is HIVE's clearest awesome yet that Sweden is portion of our semipermanent planetary strategy to physique sovereign AI compute."

Béatrice Öman, Mayor of Boden Municipality, welcomed the woody arsenic a triumph for the region.

"This is an concern successful Boden's future. HIVE has already shown that they privation to beryllium a semipermanent subordinate here, and done this deal, the institution is creating conditions for continued improvement successful the municipality."

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From the Arctic to South America: a community-first playbook

HIVE frames assemblage concern not arsenic a firm afterthought but arsenic a halfway portion of however it enters each market. The Boden acquisition is the latest illustration of an attack the institution has applied crossed 3 continents.