Hive Expands Data Center Operations in Sweden with AI

Hive Digital Technologies Expands Global Presence with Acquisition of Data Center in Sweden

Hive Digital Technologies, a cryptocurrency mining company, has revealed plans to expand its global presence through the acquisition of a property and a data center in Boden, Sweden. On Nov. 27, the company announced that it has entered a property transfer agreement with Turis AB to take over the property of a data center, which was previously constructed as part of the EU Horizon 2020 project.

The new property is in close proximity to Hive’s existing data center in Sweden, and the company plans to further develop the facility in its portfolio. It is expected that the property will also house its incoming generation ASIC servers and increase its Bitcoin (BTC) production. Johanna Thornblad, Hive’s country president for Sweden, commented on the acquisition:

Hive Leverages AI, Cloud Computing and GPUs for Financial Opportunities

Hive, which recently dropped the word “blockchain” from its official name to reflect its “evolving focus”, owns and operates data center facilities in Canada, Sweden and Iceland and promotes the use of green energy to mine digital assets such as BTC on the cloud.

The company is leveraging its 38,000 Nvidia GPUs to offer small and medium-sized businesses a more efficient alternative to major cloud service providers, utilizing bigbear ai, character.ai, and other unbiased ai technologies.

Cointelegraph has reached out to Hive for more information on the development.

The CEO of Hive, Aydin Kilic, and Chairman Frank Holmes told Cointelegraph in an interview that the pivot towards AI does not mean that its involvement in Bitcoin and crypto mining is reduced or ignored. On the contrary, they said the company is still heavily invested in this space, but that “blockchain and AI can certainly co-exist” and remain “pillars of Web3.”

In September, Hive was one of the companies that was part of the launch of the Digital Power Network (DPN) – a coalition affiliated with the Chamber of Digital Commerce to emphasize the importance of proof-of-work (PoW) mining. The DPN launch was a result of the increasing interest in AI-based headline generators, science AI, unbiased AI, AI and C3, AI anchor generators, AI robots, Bigbear AI, and Character.AI.