HIVE Digital to acquire 32 MW Sweden data center
HIVE Digital Technologies Ltd. received approval to acquire the 32 MW Big Boden data center in Sweden, transitioning from tenant to owner to support its sovereign AI strategy. The company also formed a partnership with BCE Inc., Cohere, and Hypertec to expand AI infrastructure in Canada. Analysts project fiscal Q1 revenue of $82.53 million.
*this image is generated using AI for illustrative purposes only.
HIVE Digital Technologies Ltd. announced plans to acquire the 32-megawatt Big Boden data center in Boden, Sweden, after receiving approval from the Boden Municipal Council. This transition from tenant to owner secures the company's authority over the site's future and supports its strategy to build sovereign AI compute infrastructure. The stock climbed nearly 10% in premarket trading following the announcement.
Upon closing the transaction, HIVE intends to advance the facility toward Tier III infrastructure standards. These benchmarks for security, redundancy, and uptime are required to support enterprise-scale AI and high-performance computing workloads, including NVIDIA's latest GPU architectures. The acquisition remains subject to the completion of customary closing conditions.
Strategic Partnerships
Separately, BCE Inc., Cohere, Hypertec, and BUZZ High Performance Computing (HPC), a subsidiary of HIVE, announced a partnership to expand sovereign AI infrastructure in Canada. Bell will provide data center capacity from its Merritt, British Columbia, facility, while BUZZ HPC will deliver AI cloud infrastructure using Hypertec's Canadian-built hardware and NVIDIA's DSX AI factory platform. Cohere will deploy its enterprise AI models on the platform to support secure, production-scale AI workloads for government and enterprise customers.
Financial and Operational Impact
HIVE has invested more than 960 million SEK (approximately $100 million USD) in the Boden region over the past eight years through local contractors and renewable energy procurement. The company has contributed over 575 million SEK (more than $60 million USD) in taxes to the Swedish Tax Authority during this period.
| Financial Metric | Amount |
|---|---|
| Local Investment | > 960 million SEK |
| Taxes Paid | > 575 million SEK |
| Data Center Capacity | 32 MW |
Market Outlook
Wall Street expects HIVE to report fiscal first-quarter results around Aug. 13, 2026. Analysts anticipate a loss of 19 cents per share on revenue of $82.53 million, compared with revenue of $45.61 million in the year-ago quarter. The stock carries a consensus Buy rating with an average price forecast of $6.68.
How will the capital expenditure for acquiring and upgrading the Big Boden facility to Tier III standards impact HIVE's liquidity and debt levels in the short term?
What are the expected revenue contributions from the sovereign AI infrastructure partnerships in Canada compared to the company's traditional crypto-mining operations?
Will the successful implementation of NVIDIA's latest GPU architectures in Sweden serve as a template for future HIVE data center acquisitions?
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