The Cryptocurrency Mining Company Hive Expands Global Presence with Acquisition of Property and Data Center in Sweden

Hive Digital Technologies, a leading cryptocurrency mining company, has announced its plans to expand its global presence through the acquisition of property and a data center in Boden, Sweden. The company recently entered into a property transfer agreement with Turis AB to take over the property of a data center that was previously constructed as part of the EU Horizon 2020 project.

The new property is located in close proximity to Hive’s existing data center in Sweden, and the company plans to further develop the facility in its portfolio. The property will also house Hive’s incoming generation ASIC servers, which will increase its Bitcoin (BTC) production. Johanna Thornblad, Hive’s country president for Sweden, stated that “The new data center will enable HIVE 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 currently owns and operates data center facilities in Canada, Sweden, and Iceland. The company promotes the use of green energy to mine digital assets such as BTC on the cloud. With this new acquisition, Hive aims to expand its global operations and strengthen its position in the cryptocurrency mining industry.

Earlier this year, Hive made headlines when it dropped the word “blockchain” from its official name, signaling its evolving focus on financial opportunities in AI, cloud computing, and GPUs. However, the company’s CEO, Aydin Kilic, and Chairman Frank Holmes clarified in an interview that this pivot toward AI does not diminish their involvement in Bitcoin and crypto mining. They emphasized that “blockchain and AI can certainly 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 that highlights the importance of proof-of-work (PoW) mining. This move further solidifies Hive’s commitment to the cryptocurrency mining industry and its efforts to promote sustainable practices.

Hive’s expansion into Sweden with the acquisition of a new property and data center marks an important milestone for the company. With its focus on green energy and commitment to ESG principles, Hive is poised to continue its growth and make a significant impact in the cryptocurrency mining industry.