Crypto miner Hive Digital Technologies has acquired land and a data center in Boden, Sweden, to expand its international operations, house generation ASIC servers, and increase Bitcoin production.
The organization declared on November 27 that it and Turis AB had executed a property transfer agreement in which the latter will acquire the premises of a data center that was initially built during the EU Horizon 2020 initiative.
Additionally, Hive intends to expand the facility’s portfolio and stated that this new property is “close” to its current data center in Sweden. According to the announcement, the site will reportedly accommodate ASIC servers of the next generation and increase Bitcoin production.
Sweden’s Hive country president, Johanna Thornblad, 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 maintains and owns data center facilities in Canada, Sweden, and Iceland and advocates for using renewable energy sources in cloud-based digital asset mining, including Bitcoin.
Hive omitted the word “blockchain” from its official name earlier this year to better reflect its “evolving focus” on financial opportunities in artificial intelligence, cloud computing, and GPUs.
The company then announced that it intends to offer small and medium-sized businesses a more efficient alternative to major cloud service providers by utilizing its 38,000 Nvidia GPUs.
Frank Holmes, chairman and CEO of Hive, and Aydin Kilic, CEO of Hive, stated in an interview with Cointelegraph that the company’s shift toward AI remains firm in its involvement in Bitcoin and cryptocurrency mining. However, they maintained that the organization remains “pillars of Web3” and that “blockchain and AI can certainly coexist.”
Hive was among the mining companies that participated in the September inauguration of the Digital Power Network (DPN), a Chamber of Digital Commerce-affiliated coalition that emphasizes the significance of proof-of-work (PoW) mining.
