Hive Digital Technologies Expands Global Presence with New Data Center in Sweden

According to Cointelegraph, cryptocurrency mining company Hive Digital Technologies has announced plans to expand its global presence through the acquisition of property and a data center in Boden, Sweden. The company has entered a property transfer agreement with Turis AB to take over a data center previously constructed as part of the EU Horizon 2020 project. Hive stated that the new property is in close vicinity to its existing data center in Sweden and plans to further develop the facility in its portfolio. The property will also house its incoming generation ASIC servers and increase its Bitcoin (BTC) production. Johanna Thornblad, Hive's country president for Sweden, said that the new data center will enable the company to grow its regional footprint while further demonstrating its commitment to its ESG focus, sustainable practices, environmental responsibility, and energy efficiency with its newest green energy-powered data center. Hive owns and operates data center facilities in Canada, Sweden, and Iceland, promoting the use of green energy to mine digital assets such as BTC on the cloud. Earlier this year, Hive dropped the word blockchain from its official name to reflect its evolving focus on financial opportunities in AI, cloud computing, and GPUs. The company plans to use its 38,000 Nvidia GPUs to offer small and medium-sized businesses a more efficient alternative to major cloud service providers. Hive's CEO, Aydin Kilic, and Chairman Frank Holmes stated in an interview that the pivot toward AI doesn't negate or lessen its involvement in Bitcoin and crypto mining. They said that blockchain and AI can co-exist and remain pillars of Web3. In September, Hive was one of the mining companies involved in launching the Digital Power Network (DPN), a coalition affiliated with the Chamber of Digital Commerce to stress the importance of proof-of-work (PoW) mining.