HIVE Digital Technologies (Nasdaq: HIVE) is turning nearly a decade of renting space in northern Sweden into permanent ownership.
The company announced on June 18 that the Boden Municipal Council has approved its acquisition of the Big Boden 32 MW data center from Bodens Utvecklings AB, the same facility that has anchored HIVE’s Swedish operations since 2018.
The move takes HIVE from tenant to owner, giving the company full control over the site’s future and converting what began as a business arrangement into a long-term commitment to the region.
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8 years, $100 million, and a hockey rink
HIVE’s presence in Boden is not just about servers and power cables.
Over eight years, the company has invested more than 960 million SEK (around $100 million) in the Boden region through local contractors and renewable energy procurement.
It has also paid more than 575 million SEK (over $60 million) in taxes to the Swedish Tax Authority.
Beyond the balance sheet, HIVE sponsors the Boden Hockey League, supporting 12 youth teams and the club’s newly established women’s teams. It is also the naming partner of HIVE Arena.
The company is working alongside Boden Municipality and the Research Institute of Sweden to explore whether heat generated by the data center can be redirected for broader community use, an initiative that would turn energy infrastructure into a civic asset.
Johanna Thörnblad, Country Site President for Sweden at HIVE, said the acquisition reflects the company’s long-term intentions in the country.
“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.”
Béatrice Öman, Mayor of Boden Municipality, welcomed the deal as a win for the region.
“This is an investment in Boden’s future. 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.”
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From the Arctic to South America: a community-first playbook
HIVE frames community investment not as a corporate afterthought but as a core part of how it enters every market. The Boden acquisition is the latest example of an approach the company has applied across three continents.
