---
title: "HIVE Digital Targets $45 Million Annually in Sweden AI Data Center Pivot"
description: "The miner is negotiating a 10-year colocation deal at its 32 MW Boden site as it expands high-performance computing operations."
url: https://basisdesk.news/news/hive-digital-eyes-45-million-ai-data-center-sweden
published: 2026-11-10T23:01:12.442Z
modified: 2026-11-10T23:01:12.442Z
section: Mining & Infrastructure
author: Basis Desk Newsroom (AI-generated, source-verified)
sentiment: neutral
tickers: [BTC]
tags: [hive-digital, artificial-intelligence, data-centers, hpc, nvidia, bitcoin-mining]
license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice.
---

# HIVE Digital Targets $45 Million Annually in Sweden AI Data Center Pivot

The miner is negotiating a 10-year colocation deal at its 32 MW Boden site as it expands high-performance computing operations.

## At a glance

- **What happened:** HIVE Digital confirmed ongoing negotiations for a 10-year AI data center lease in Sweden projected to generate $45 million annually.
- **Why it matters:** The deal advances HIVE's strategic pivot from crypto mining toward high-performance computing, targeting $700 million in annualized HPC revenue by 2028.
- **Who is affected:** HIVE Digital Technologies and an unnamed investment-grade Swedish technology company.
- **What's next:** Finalizing the definitive lease agreement, terms for termination and deposits, and securing project financing.
- **Status:** announced
- **Primary source:** [Bitcoin Miner HIVE Eyes $45 Million in Annual Revenue From AI Deal](https://decrypt.co/382982/bitcoin-miner-hive-eyes-45-million-ai-data-center) — decrypt.co

## Key points

- HIVE is negotiating a nonbinding, 10-year AI colocation deal at its 32 MW Sweden site worth an estimated $45 million annually.
- The planned Big Boden overhaul will host up to 10,000 liquid-cooled Nvidia GB300 GPUs, yielding 25 MW of active compute power.
- HIVE maintains $185 million in contracted annualized GPU revenue, with $40 million operational and a $700 million 2028 HPC target.

## Editorial remark

- **Context:** Bitcoin mining firms continue seeking steady operational cash flows by converting existing electrical infrastructure into institutional AI and HPC hosting environments.
- **Impact:** HIVE's revenue mix shifts further toward non-mining compute services, providing diversification from crypto network difficulty adjustments and market drawdowns.
- **Watch:** Execution of a definitive lease agreement for the Big Boden site and the subsequent terms of its debt or corporate bond financing package.

HIVE Digital Technologies is in talks to secure approximately $45 million in annual revenue by retrofitting its 32-megawatt Big Boden data center in Sweden for artificial intelligence workloads [1]. The potential 10-year lease agreement with an unnamed Swedish enterprise-grade technology company remains nonbinding, with final covenants, deposits, and termination terms currently under negotiation [1].

Executive leadership stressed that securing optimal lease terms takes precedence over immediate headline expansion [1]. Chief Executive Officer Aydin Kilic noted during an earnings call that a lender's consultant recently inspected the site, adding that project debt—potentially financed via corporate bonds—will be pursued only after executing a definitive contract [1]. If completed, the facility will accommodate up to 10,000 Nvidia GB300 graphics processing units with liquid cooling architecture, providing the tenant with 25 megawatts of usable compute capacity while the remaining utility load sustains facility operations [1]. The site originally functioned as a GPU hub supporting Ethereum before transitioning toward institutional high-performance computing (HPC) [1].

## Broadening High-Performance Compute Footprint

The Sweden initiative reflects a broader trend among digital asset miners seeking insulation from block subsidy volatility by repurposing high-voltage energy assets, a structural transformation detailed in our analysis of [why bitcoin miners are pivoting to AI](https://basisdesk.news/news/bitcoin-miners-ai-hpc-data-centers) [1]. HIVE previously inked a three-year enterprise deal in June involving Bell Canada and Cohere across 2,304 Nvidia units [1]. 

At present, the digital asset operator reports $185 million in contracted annualized GPU-cloud run-rate revenue, though just $40 million of that total is operational [1]. The company has established a long-term target of $700 million in annualized HPC revenue by the close of 2028, a metric contingent on subsequent facility buildouts, third-party financing, and confirmed customer agreements [1]. Bitcoin traded around $73,593 at the time of writing, down 2.0% over 24 hours.

## Sources

1. [Bitcoin Miner HIVE Eyes $45 Million in Annual Revenue From AI Deal](https://decrypt.co/382982/bitcoin-miner-hive-eyes-45-million-ai-data-center) — decrypt.co, 2026-11-10

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Basis Desk Newsroom · AI-generated, source-verified · https://basisdesk.news/about/how-we-use-ai