Cryptocurrency mining company Hive Digital Technologies has announced its plans to expand globally with the acquisition of property and a data center in Boden, Sweden. The company entered a property transfer agreement with Turis AB to take over the data center previously built as part of the European Union’s Horizon 2020 project. Hive plans to develop the facility, which is in close proximity to its existing data center in Sweden, to accommodate its next generation of ASIC servers and increase Bitcoin production. The move aligns with Hive’s commitment to environmental responsibility, energy efficiency, and its focus on green energy-powered data centers. The expansion in Sweden adds to Hive’s operations in Canada and Iceland.
- Hive Digital Technologies is expanding its global presence with the acquisition of land and a data center in Boden, Sweden.
- The company entered a property transfer agreement with Turis AB to take over a data center constructed as part of the EU’s Horizon 2020 project.
- The new property is in close proximity to Hive’s existing data center in Sweden and will house the incoming generation of ASIC servers to increase Bitcoin production.
- Johanna Thornblad, Hive’s country president for Sweden, emphasized the company’s commitment to environmental responsibility and energy efficiency with its newest “green” energy-powered data center.
- Hive Digital Technologies owns and operates data center facilities in Canada, Sweden, and Iceland, with a focus on using green energy for cryptocurrency mining.
Note: The move follows Hive’s earlier pivot toward financial opportunities in AI, cloud computing, and GPUs, although the company emphasized that its involvement in Bitcoin and crypto mining remains strong.
Impact on the Crypto Market:
- The expansion of mining operations in Sweden reflects the ongoing global developments in the cryptocurrency mining sector.
- The acquisition of a new data center indicates the industry’s continuous efforts to scale and increase production efficiency.
- The commitment to green energy aligns with the growing emphasis on environmental sustainability in the crypto mining space.