Overview
- The Boden Municipal Council approved HIVE’s purchase of the 32 MW Big Boden site on June 18, 2026, moving the company from long-term tenant toward ownership while the deal remains subject to customary closing conditions.
- HIVE has operated at Big Boden since 2018 and says it invested more than 960 million SEK in the region and paid over 575 million SEK in taxes, which company executives cite as evidence of deep local ties and community partnership.
- After closing, HIVE will pursue Tier III infrastructure certification to meet enterprise availability standards, a process that requires redundant power, cooling and connectivity to ensure roughly 99.982% uptime.
- The company intends to retrofit the facility to support NVIDIA GPU architectures and had previously targeted roughly 2,000 GPUs as part of a shift from crypto mining toward sovereign, renewable-backed AI compute in Europe; the acquisition is privately financed and not a direct Swedish government investment.
- Key near-term risks and steps include completing the sale, funding and executing the engineering upgrades, and a collaborative study with Boden Municipality and the Research Institute of Sweden on reusing waste heat for local community use that could deliver civic energy benefits.