HIVE Digital acquires Swedish data center, signs AI lease deal
HIVE Digital Technologies received approval from Boden Municipal Council to acquire the 32 MW Big Boden data center in Sweden, ending an eight-year tenancy. The company invested over 960 million SEK (~$100 million) locally and paid 575 million SEK in taxes. Separately, HIVE signed a non-binding LOI to lease the facility for up to 10 years to an unnamed Swedish tech firm for AI/HPC, planning to retrofit for 10,000 Nvidia GB300 GPUs. HIVE also launched a $115 million convertible note offering to fund expansion.
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HIVE Digital signs 10-year lease with Swedish sovereign client for Boden AI data center
HIVE Digital Technologies (Nasdaq: HIVE) announced on June 25, 2026 that it has signed a non-binding letter of intent with an investment-grade, sovereign Swedish technology client to lease its 32 megawatt Boden facility for up to 10 years. The facility, originally built for cryptocurrency mining and operated since 2018, will be retrofitted to support up to 10,000 Nvidia GB300 GPUs with liquid cooling, transforming it into a high-performance AI computing hub. The Boden Municipal Council approved HIVE's acquisition of the facility from Bodens Utvecklings AB on June 18. HIVE executives emphasized that the company's nearly decade-long operational history in the Nordics, green energy infrastructure, and stakeholder relationships were key factors in securing the commitment. The deal represents a significant commercial milestone for HIVE and is expected to contribute significant annual recurring revenue.
Yahoo FinanceHIVE Digital Signs LOI for AI Tenant at Boden Facility, Launches $100M Convertible Note Offering
HIVE Digital Technologies announced it signed a non-binding letter of intent (LOI) with an unnamed Swedish technology company for an up to 10-year lease of its 32 MW data center in Boden, Sweden. The LOI covers approximately 25 MW of critical IT load for high-performance computing, with plans to retrofit the site for up to 10,000 GB300 GPUs using hybrid liquid cooling. Separately, HIVE launched a $100 million private offering of 0% exchangeable senior notes due 2031, with potential for an additional $15 million. Proceeds will fund GPU purchases, data center development, and general corporate purposes. The announcements signal HIVE's strategic shift from crypto mining to contracted AI/HPC revenue. The LOI follows a June 18 approval by Boden Municipal Council for HIVE to acquire the facility from Bodens Utvecklings AB for approximately SEK 105 million ($10.81 million). HIVE CEO Aydin Kilic stated the lease would generate significant annual recurring revenue.
Yahoo FinanceHIVE Digital Technologies Signs LOI for 10-Year Sweden Data Center Lease, Plans $100M Notes Offering
HIVE Digital Technologies has signed a non-binding letter of intent with an investment-grade Swedish technology company to lease its 32-megawatt data center in Boden, Sweden for up to 10 years. The client would use about 25 megawatts of critical IT capacity for high-performance computing colocation, with plans to retrofit the facility to support up to 10,000 Nvidia GB300 GPUs using liquid and air cooling. Separately, HIVE's Bermuda subsidiary announced a $100 million offering of 0% exchangeable senior notes due 2031, with an option for an additional $15 million. Proceeds will fund GPU purchases, data center development, and general corporate purposes. The lease is subject to a definitive contract, and HIVE has operated in Boden since 2018 with experience managing around 130,000 GPUs in the region.
Yahoo FinanceHIVE Digital acquires 32 MW Swedish data center after 8 years as tenant
HIVE Digital Technologies (Nasdaq: HIVE) announced on June 18, 2026, that the Boden Municipal Council approved its acquisition of the 32 MW Big Boden data center from Bodens Utvecklings AB, transitioning from tenant to owner after eight years of operations in northern Sweden. The company has invested over 960 million SEK (~$100 million) in the region through local contractors and renewable energy procurement, and paid more than 575 million SEK (~$60 million) in taxes. HIVE also sponsors the Boden Hockey League and is exploring heat reuse initiatives with the municipality. The acquisition signals HIVE's long-term commitment to Sweden as part of its global strategy for sovereign AI compute, with similar community-first approaches in Paraguay and Canada.
Yahoo FinanceHIVE Digital acquires 32 MW Swedish data center after 8 years as tenant
HIVE Digital Technologies (Nasdaq: HIVE) has received approval from the Boden Municipal Council to acquire the 32 MW Big Boden data center in northern Sweden, converting its eight-year tenancy into ownership. The company has invested over 960 million SEK (~$100 million) in the region and paid more than 575 million SEK in taxes. HIVE sponsors local hockey teams and is exploring heat reuse for community benefit. CEO Johanna Thörnblad called the acquisition 'HIVEs clearest signal yet that Sweden is part of our long-term global strategy to build sovereign AI compute.' The deal reflects HIVE's broader community-first approach also seen in Paraguay and Canada.
Yahoo FinanceHIVE Digital Technologies gains approval to acquire Swedish data center in Boden
HIVE Digital Technologies Ltd has received approval from the Boden Municipal Council to acquire the Big Boden 32-megawatt data center in Sweden from Bodens Utvecklings AB. The facility has housed HIVE's Swedish operations since 2018. The acquisition, subject to customary closing conditions, will allow HIVE to transition from leasing to owning the site. HIVE has invested over 960 million Swedish kronor (about $100 million) in the Boden region over eight years through local contractors and renewable energy purchases, and paid more than 575 million kronor in taxes. Executive chairman Frank Holmes emphasized the company's commitment to clean power, local investment, and long-term presence. Johanna Thörnblad, HIVE's country site president for Sweden, said the purchase supports the company's strategy to build sovereign AI computing infrastructure. HIVE plans to upgrade the facility to Tier III standards for enterprise-scale AI and high-performance computing, including NVIDIA's latest GPU architectures. Mayor Béatrice Öman described the deal as an investment in Boden's future.
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