Cryptocurrency mining company Hive Digital Technologies has announced plans to expand its global presence with a new data center in Boden, Sweden. The company has entered a property transfer agreement with Turis AB to take over the property of a data center previously constructed as part of the EU Horizon 2020 project. The new data center, located in close vicinity to Hive's existing facility in Sweden, will house its incoming generation ASIC servers and increase its Bitcoin production. Hive promotes the use of green energy to mine digital assets such as BTC on the cloud.
Hive's commitment to sustainability and energy efficiency
Hive's country president for Sweden, Johanna Thornblad, stated that the new data center will not only help the company grow its regional footprint but also demonstrate its commitment to environmental responsibility and energy efficiency. The facility will be powered by "green" energy, aligning with Hive's ESG focus and sustainable practices.
Hive's evolving focus on AI and cloud computing
Earlier this year, Hive dropped the word "blockchain" from its name to reflect its evolving focus on financial opportunities in AI, cloud computing, and GPUs. The company plans to leverage its Nvidia GPUs to offer small and medium-sized businesses a more efficient alternative to major cloud service providers. However, Hive's CEO, Aydin Kilic, and Chairman Frank Holmes emphasize that the pivot toward AI doesn't diminish the company's involvement in Bitcoin and crypto mining. They believe that blockchain and AI can co-exist and remain pillars of Web3.
Hive's involvement in the mining industry
Hive was one of the mining companies involved in launching the Digital Power Network (DPN), a coalition affiliated with the Chamber of Digital Commerce. The DPN aims to stress the importance of proof-of-work (PoW) mining in the cryptocurrency industry. Cointelegraph has reached out to Hive for more information on its expansion plans.
