HIVE Digital Technologies gains approval to acquire Swedish data center in Boden

HIVE Digital Technologies Ltd (TSX:HIVE, NASDAQ:HIVE, FRA:YO0, BVC:HIVECO) announced that it has received support from the Boden Municipal Council to get the Big Boden 32-megawatt information halfway successful Sweden from Bodens Utvecklings AB, a installation that has housed the company's Swedish operations since 2018.

The acquisition, which remains taxable to customary closing conditions, would let HIVE to modulation from leasing the tract to owning it outright.

HIVE said it has invested much than 960 cardinal Swedish kronor (about $100 million) successful the Boden portion implicit the past 8 years done section contractors and renewable vigor purchases, portion paying much than 575 cardinal kronor successful taxes to Swedish authorities.

"Sweden, Paraguay, Canada: the thread connecting each of our operations is the same. The communities that big our infrastructure are partners successful what we are building," HIVE enforcement president Frank Holmes said successful a statement.

"Boden has been an exceptional spouse for astir 8 years, and this acquisition is our committedness to proceed earning that relationship," Holmes said. "Clean power, section investment, and semipermanent presence: that is however exertion tin genuinely beforehand quality progress."

Johanna Thörnblad, HIVE's state tract president for Sweden, said the acquisition underscores the company's semipermanent strategy to physique sovereign artificial quality computing infrastructure 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," Thörnblad said.

The institution said it plans to upgrade the installation to Tier III infrastructure standards pursuing the closing, with enactment for enterprise-scale AI and high-performance computing workloads, including NVIDIA's latest GPU architectures.

Béatrice Öman, politician of Boden Municipality, described the woody arsenic "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," Öman said. "It strengthens some our concern assemblage and Boden's presumption arsenic a spot for technologically precocious establishments."