HIVE Digital Technologies Ltd. (TSX: HIVE) (NASDAQ: HIVE) (FSE: YO0) (BVC: HIVECO) said the Boden Municipal Council has approved its acquisition of the Big Boden 32 MW data center from Bodens Utvecklings AB, moving the company from tenant to owner of the facility that has supported HIVE’s Swedish operations since 2018. The deal, which is subject to customary closing conditions, is set to give HIVE full control over the site’s future as it plans to advance the facility toward Tier III infrastructure standards.
Approval shifts HIVE from tenant to owner in Boden
In a statement tied to a designated news release, HIVE said the approval by the Boden Municipal Council marks a key step in the transaction. With the council’s green light, HIVE will transition from operating within the data center as a tenant to owning the site outright, granting it authority over how the facility develops going forward.
The company framed the move as more than a property step—describing it as the conversion of nearly eight years of community partnership into a permanent commitment. The Big Boden facility has served as a long-standing anchor for HIVE’s Swedish footprint, and the acquisition is positioned as a way to deepen that relationship while enabling further infrastructure upgrades.
Sweden investment and local tax payments over eight years
HIVE said it has invested more than 960 million SEK (approximately $100 million USD) in the Boden region over the past eight years. The spending, according to the company, has been directed through local contractors and renewable energy procurement.
The company also reported that it has paid more than 575 million SEK (over $60 million USD) in taxes to the Swedish Tax Authority. Together, those figures are intended to illustrate the scale of HIVE’s local economic contribution alongside its operations in northern Sweden.
Community involvement has extended beyond infrastructure activity. HIVE described itself as a long-standing sponsor of the Boden Hockey League, supporting 12 youth teams and the club’s newly established women’s teams. It also said it is the naming partner of HIVE Arena.
On the sustainability front, HIVE said it continues working with Boden Municipality and the Research Institute of Sweden (“RISE”) to explore recovering heat generated by the data center for broader community use—an approach the company described as turning energy infrastructure into a civic asset. The company linked that effort to its view of data centers as physical infrastructure that can support local needs rather than functioning only as an external service.
“We chose Boden in 2018 because the municipality understood, before most did, what sustainable digital infrastructure could look like. This acquisition is HIVE’s clearest signal yet that Sweden is part of our long-term global strategy to build sovereign AI compute.”
“This is an investment in Boden’s future,” Mayor Béatrice Öman said. “HIVE has already shown that they want to be a long-term player here, and through this deal, the company is creating conditions for continued development in the municipality. It strengthens both our business community and Boden’s position as a place for technologically advanced establishments.”
The approval and acquisition were also addressed by Johanna Thörnblad, Country Site President, Sweden, and Mayor Öman in the company’s statement.
Tier III upgrade plans for Big Boden and broader “sovereign compute” footprint
After closing, HIVE said it will advance the Big Boden data center toward Tier III infrastructure standards. The company described Tier III as a benchmark for security, redundancy, and uptime that it says is required to support enterprise-scale AI and HPC workloads.
HIVE also tied the upgrade path to support for NVIDIA’s latest GPU architectures for AI training and inference, positioning the Boden site within its wider effort to develop sovereign, renewable-powered AI infrastructure across Canada, Sweden, and Paraguay.
The company did not provide additional transaction pricing or deal terms in the release. It reiterated that the acquisition remains subject to the completion of customary closing conditions, adding that further details would be released as the transaction progresses.
In its discussion of operations outside Sweden, HIVE pointed to community investment efforts connected to its data center campuses. In Paraguay, the company said it invested directly in communities surrounding its sites through electrical system upgrades, improved power infrastructure, and air conditioning installations across 18 schools in Valenzuela. It also cited the construction of playgrounds at four local schools, improvements to city blocks with LED street lighting, and an upgraded municipal soccer field including a new locker room. HIVE added that it sponsored the community’s youth soccer program with new jerseys and equipment.
In Canada, HIVE said it participates in heat reuse initiatives that redirect thermal energy from its data centers back into local use. It also stated that it supports the British Columbia Honey Producers Association as part of what it called broader environmental stewardship alongside operations powered by renewables.
HIVE said the common thread in those efforts is a model of entering communities as a long-term partner, with the company emphasizing that it intends for infrastructure to serve regions where it operates. Frank Holmes, Executive Chairman, said Boden has been an “exceptional partner” for nearly eight years and characterized the acquisition as a commitment to continue earning that relationship, with an emphasis on clean power, local investment, and long-term presence. The company’s comments on the transaction were included in the release published on source.
What the acquisition means for HIVE’s Swedish operations
With municipal approval in hand, HIVE’s next milestone is completion of the customary closing conditions. Once the transaction closes, the company expects to move the Big Boden data center further toward Tier III infrastructure standards as it seeks to support enterprise-scale AI and HPC workloads.
The company’s broader messaging connects the ownership change in Boden to a strategy of building sovereign AI compute with renewable power, and it underscores how the company’s local partnership model—spanning community sponsorship, tax payments, and efforts related to heat recovery—has been a central part of its presence in the region since 2018.
Founded in 2017, HIVE Digital Technologies Ltd. is described in the release as the first publicly listed company to mine digital assets powered by green energy. The company builds and operates next-generation Tier-I and Tier-III data centers across Canada, Sweden, and Paraguay, serving both Bitcoin and high-performance computing clients, with what it calls dual-engine infrastructure combining hashrate services and GPU-accelerated AI computing.
