HIVE Digital acquires 32 MW data center in Sweden after 8 years as tenant

HIVE Digital Technologies is moving from tenant to owner in Sweden after the Boden Municipal Council approved its acquisition of the Big Boden 32 MW data center.

The facility has anchored HIVE’s Swedish operations since 2018. The acquisition gives the company direct control over the site as it expands its infrastructure strategy beyond Bitcoin mining and deeper into AI compute and high performance computing.

HIVE said it has invested more than 960 million SEK, about $100 million, in the Boden region over the past eight years through local contractors and renewable energy procurement. The company has also paid more than 575 million SEK, or over $60 million, in taxes to the Swedish Tax Authority.

The company has also built a broader local presence in Boden. HIVE sponsors the Boden Hockey League, supports youth and women’s hockey teams, and is the naming partner of HIVE Arena.

HIVE is also working with Boden Municipality and the Research Institute of Sweden to explore whether heat generated by the data center can be reused for local community needs. The initiative would turn part of the facility’s energy output into a civic resource.

Johanna Thörnblad, HIVE’s Country Site President for Sweden, said the acquisition reflects the company’s long term commitment to the country.

“We chose Boden in 2018 because the municipality understood, before most did, what sustainable digital infrastructure could look like,” Thörnblad said. “This acquisition is HIVE’s clearest signal yet that Sweden is part of our long term global strategy to build sovereign AI compute.”

The deal comes as HIVE expands a community focused infrastructure model across Sweden, Paraguay and Canada. In Paraguay, the company has funded electrical upgrades, school improvements, playgrounds, street lighting and youth soccer programs near its data center campuses.

In Canada, HIVE participates in heat reuse projects and supports the British Columbia Honey Producers Association as part of its environmental efforts.

Frank Holmes, HIVE’s executive chairman, said the company views the communities that host its infrastructure as partners.

“Sweden, Paraguay, Canada: the thread connecting all of our operations is the same,” Holmes said. “The communities that host our infrastructure are partners in what we are building.”

After the acquisition closes, HIVE plans to advance the Big Boden site toward Tier III infrastructure standards, which are used for facilities requiring stronger security, redundancy and uptime. The company also plans to prepare the site for NVIDIA’s latest GPU architectures for AI training and inference.

The Boden facility joins HIVE’s broader infrastructure network across Canada, Sweden and Paraguay. The acquisition remains subject to customary closing conditions.

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