Key facts
- HIVE Digital Technologies is acquiring the 32-megawatt Big Boden data center in Sweden.
- HIVE is partnering with BCE Inc., Cohere, and Hypertec to build sovereign AI infrastructure in Canada.
- The Canadian partnership aims to support secure, production-scale AI workloads for government and enterprise customers.
- HIVE shares jumped nearly 10% in premarket trading following the announcements.
- HIVE is actively transitioning its business model from Bitcoin mining to AI cloud computing and high-performance computing.
HIVE Digital Technologies saw its shares jump nearly 10% in premarket trading following two significant announcements related to its strategic shift towards AI computing. The company is acquiring a 32-megawatt data center in Big Boden, Sweden, which it has been operating as a tenant since 2018. HIVE plans to upgrade this facility to Tier III standards, making it suitable for enterprise AI and high-performance computing workloads, including those requiring the latest NVIDIA GPU architectures.
In a separate development, HIVE's subsidiary BUZZ High Performance Computing has partnered with BCE Inc. (Bell), Cohere, and Hypertec to expand sovereign AI infrastructure within Canada. Bell will contribute data center capacity from its facility in Merritt, British Columbia. BUZZ HPC will provide AI cloud infrastructure utilizing Hypertec's Canadian-built hardware and NVIDIA's DSX AI factory platform, with Cohere deploying its enterprise AI models on this infrastructure. This collaboration aims to support secure, production-scale AI workloads for government and enterprise clients, thereby strengthening Canada's digital sovereignty and AI ecosystem.
These moves underscore HIVE's ongoing transition from a Bitcoin mining company to a broader AI cloud infrastructure and high-performance computing business. The company has previously announced plans for a large-scale AI-focused data center campus in Ontario, designed to support 320 MW of electricity capacity and over 100,000 GPUs, with an estimated investment of CAD $3.5 billion (USD $2.55 billion) and an expected operational start in the second half of 2027. HIVE currently holds approximately 481 BTC.