HIVE Digital signs 10-year LOI to lease 25 MW for AI computing in Sweden, shifting from crypto mining.

HIVE Digital Technologies has signed a non-binding 10-year letter of intent to lease 25 MW of its Boden, Sweden facility to a sovereign Swedish tech firm for high-performance computing (HPC). The company plans to retrofit the site with up to 10,000 Nvidia GB300 GPUs and advanced cooling systems to support AI workloads, marking a shift from its previous Bitcoin mining operations. The deal follows local council approval for HIVE's acquisition of the site and coincides with a $100 million zero-interest note offering to fund the retrofit. This move aims to secure long-term revenue with an investment-grade client while transitioning into AI infrastructure, though final contract execution and GPU supply remain key factors to watch.