HIVE Digital Technologies (Nasdaq: HIVE) is turning nearly a decade of renting space in northern Sweden into permanent ownership.
The company announced on June 18 that the Boden Municipal Council has approved its acquisition of the Big Boden 32 MW data center from Bodens Utvecklings AB, the same facility that has anchored HIVE’s Swedish operations since 2018
The move takes HIVE from tenant to owner, giving the company full control over the site’s future and converting what began as a business arrangement into a long-term commitment to the region. 8 years, $100 million, and a hockey rink HIVE’s presence in Boden is not just about servers and power cables. Over eight years, the company has invested more than 960 million SEK (around $100 million) in the Boden region through local contractors and renewable energy procurement. It has also paid more than 575 million SEK (over $60 million) in taxes to the Swedish Tax Authority.
Beyond the balance sheet, HIVE sponsors the Boden Hockey League, supporting 12 youth teams and the club’s newly established women’s teams. It is also the naming partner of HIVE Arena. The company is working alongside Boden Municipality and the Research Institute of Sweden to explore whether heat generated by the data center can be redirected for broader community use, an initiative that would turn energy infrastructure into a civic asset.