HIVE Digital Technologies inks LOI for 10-year lease at Sweden data center, plans $100M exchangeable notes offering HIVE Digital Technologies Ltd (TSX:HIVE, NASDAQ:HIVE, FRA:YO0, BVC:HIVECO) announced that it has signed a non-binding letter of intent with an investment-grade…
vereign Swedish technology company for a potential lease of its 32-megawatt data center in Boden, Sweden, for a term of up to 10 years. The announcement follows the June 18 approval by the Boden Municipal Council of HIVE’s acquisition of the facility from Bodens Utvecklings AB
Under the proposed arrangement, the client would utilize approximately 25 megawatts of critical IT capacity at the site for high-performance computing (HPC) colocation services. HIVE said it expects to retrofit the facility to support as many as 10,000 Nvidia GB300 GPUs, using a combination of direct-to-chip liquid cooling and air cooling. The site’s total utility load is 32 megawatts, corresponding to about 25 megawatts of usable IT capacity.
HIVE has operated in Boden since 2018 and said it has previously managed about 130,000 GPUs in the region. The company noted that the prospective customer selected the facility following site visits and technical due diligence. HIVE’s executive chairman Frank Holmes said the agreement reflects the company’s long-term investment strategy in Nordic infrastructure and its focus on developing sovereign artificial intelligence computing capacity. “As we expand our global footprint from Canada to Paraguay to Sweden, each milestone reflects the same conviction: sovereign AI infrastructure is one of the most important buildouts of our generation, and HIVE is building it,” Holmes said.