HIVE Digital has purchased the 32 MW data center in Sweden it operated as a tenant for the past eight years. The acquisition comes as the company pivots from crypto mining to artificial intelligence infrastructure — a move that could lift revenue and push it deeper into the AI market.
From tenant to owner
HIVE had been leasing the facility since 2017. Now it owns the site outright. The company didn't disclose the purchase price, but control of a 32 MW facility gives it a fixed base for expansion. Owning rather than renting also means lower long-term costs and more freedom to retrofit the site for AI workloads.
The AI infrastructure play
The shift isn't subtle. HIVE has been repositioning itself as an AI infrastructure provider, and this acquisition is the biggest signal yet. The 32 MW capacity can house high-performance computing clusters that AI companies need for training and inference. The company expects the pivot to significantly boost revenue — exactly how much it hasn't said — and to establish it as a key player in the AI infrastructure space, a market that's drawing heavy investment from both startups and established tech firms.
What the deal means for HIVE's bottom line
Running a data center you own is cheaper than leasing one. That margin improvement matters when you're competing for AI contracts. HIVE also avoids the risk of lease renewals or rent hikes. The Swedish site is already operational, so there's no construction delay. The company can start selling AI compute capacity right away.
Next steps
HIVE Digital now owns the facility free and clear. The company plans to invest in upgrades to support AI workloads, though it hasn't released a timeline or budget for those changes. Investors will be watching for the first revenue figures tied to the AI pivot — likely in the next quarterly report.
