Cryptocurrency mining company Hive Digital Technologies has revealed plans to expand its global reach by acquiring new property and data centers in Boden, Sweden.
On November 27, the company declare The company entered into a property transfer agreement with Turis AB to take over the property of a data center previously built as part of the EU’s Horizon 2020 project.
Hive said the new facility is “immediately adjacent” to its existing data center in Sweden, and it plans to develop the facility further across its portfolio. The company said the property will also house a new generation of ASIC servers and increase Bitcoin (BTC) production.
Hive Sweden Country President Johanna Thornblad said:
“The new data center will allow HIVE to expand its regional footprint while further demonstrating its commitment to ESG focus, sustainable practices, environmental responsibility and energy efficiency through its newest ‘green’ energy data center.”
Hive owns and operates data center facilities in Canada, Sweden and Iceland, and advocates the use of green energy to mine digital assets such as BTC in the cloud.
Cointelegraph has reached out to Hive for more information on the development.
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In early 2023, Hive dropped the word “blockchain” from its official name to reflect its “evolving focus” on financial opportunities in artificial intelligence (AI), cloud computing and graphics processing units (GPUs).
The company later said it planned to use its 38,000 Nvidia GPUs to provide small and medium-sized businesses with a more efficient alternative to major cloud service providers.
Hive CEO Aydin Kilic and its chairman Frank Holmes said in an interview with Cointelegraph that the shift to artificial intelligence will not negate or reduce its involvement in Bitcoin and cryptocurrency mining. Instead, they said the company remains heavily involved but that “blockchain and artificial intelligence can certainly coexist” and remain “the backbone of Web3.”
In September, Hive was one of the mining companies participating in the launch of the Digital Power Network (DPN), a consortium affiliated with the Digital Chamber of Commerce that aims to highlight the importance of proof-of-work (PoW) mining.
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