HIVE Digital Ditches Crypto Mining for AI Computing in Sweden

HIVE Digital Technologies is shifting its focus from Bitcoin mining to high-performance computing (HPC) after signing a non-binding 10-year letter of intent. The company will lease 25 MW of its Boden, Sweden facility to a sovereign Swedish tech firm for AI workloads.

The site will be retrofitted with up to 10,000 Nvidia GB300 GPUs and advanced cooling systems. This move follows local council approval for HIVE's acquisition of the site and coincides with a $100 million zero-interest note offering to fund the retrofit.

The deal aims to secure long-term revenue with an investment-grade client while transitioning into AI infrastructure.