HIVE Digital Targets $45M Annual Revenue With New Data Center

Bitcoin mining firm HIVE Digital Technologies plans to generate $45 million per year from a new data center in Sweden. The project at the Big Boden facility depends on signing a definitive lease agreement with a local technology company.

The deal involves using 25 megawatts of capacity for high-performance computing. The miner intends to adapt the space to house up to 10,000 Nvidia GB300 graphics processing units. The system will use liquid cooling to support the density of the machines.

The company is still negotiating terms such as deposits and termination rights before finalizing the commitment. CEO Aydin Kilic stated that he seeks financial security before making the deal official. The firm plans to raise capital through corporate bonds after the contract is signed.

This initiative is part of HIVE's strategy to expand its operations beyond crypto asset mining. The company already holds cloud computing contracts with partners such as Bell Canada and Cohere. The goal is to reach $700 million in annual high-performance computing revenue by the end of 2028.

The transition to the artificial intelligence sector may increase global demand for high-performance graphics processing chips. This move diversifies revenue streams for mining companies and reduces their exclusive dependence on Bitcoin volatility.