HIVE Digital Technologies has made a significant move by acquiring the 32 MW Big Boden data center in Sweden, transitioning from a long-term tenant to an owner of a facility that has been operational since 2018. This acquisition is a strategic pivot towards enterprise-grade AI workloads, as HIVE plans to upgrade the data center to Tier III standards. This certification signifies an impressive 99.982% uptime, enabling HIVE to provide essential always-on AI computing services.
The Big Boden data center is located in northern Sweden, an area rich in hydroelectric power. HIVE’s plans include enhancing the infrastructure to support NVIDIA GPU clusters, with approximately 2,000 NVIDIA GPUs set to be installed. This strategic shift reflects HIVE's adaptation to the changing landscape of computing needs, moving from a reliance on cryptocurrency mining to a focus on AI services.
HIVE’s commitment to the Boden region is significant, having invested around 960 million SEK, which is about $100 million, while contributing over 575 million SEK, approximately $60 million, in taxes. The approval for the acquisition was finalized around June 2026, with no direct government investment linked to this specific project, highlighting it as a privately funded initiative backed by municipal support.
This acquisition aligns with HIVE’s broader global ambitions spanning Canada, Sweden, and Paraguay, each location presenting unique strategic advantages. Canada offers access to North American enterprise customers, while Paraguay provides some of the world’s cheapest electricity. Meanwhile, Sweden’s renewable energy credentials are increasingly appealing to European markets.