HIVE Takes Control in Sweden
HIVE Digital Technologies Secures Full Ownership of Key 32MW Boden Data Center in Strategic Swedish Expansion
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A separate filing noted insider trading: HIVE insiders sold about $1.2 million in stock over the prior three months.
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HIVE Sweden Country Site President Johanna Thörnblad said, "We chose Boden in 2018 because the municipality understood, before most did, what sustainable digital infrastructure could look like," adding, "This acquisition is HIVE's clearest signal yet that Sweden is part of our long-term global strategy to build sovereign AI compute."
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HIVE highlighted its existing local ties in Boden, saying it is a long-standing sponsor of the Boden Hockey League—supporting 12 youth teams and the club's newly established women’s teams—and is the naming partner of HIVE Arena.
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Beyond general 'local institutions,' HIVE specified its waste-heat work will be done with Boden Municipality and the Research Institute of Sweden (RISE) to explore using energy generated by the data center for broader community use.
The Boden Municipal Council in northern Sweden has approved HIVE Digital Technologies' acquisition of the 32 MW Big Boden data center, ending an eight-year tenant relationship and handing the company full ownership of its primary Swedish hub. Yahoo Finance reported that HIVE is buying the facility from Bodens Utvecklings AB, the municipal development company that has leased it to HIVE since 2018.
The deal comes on the same day HIVE announced a $220 million AI computing contract with Bell Canada and Cohere, sending its stock up nearly 12% in early trading. At the same time, regulatory filings show the company's COO sold roughly $1.2 million in shares in the weeks before the announcement.
From Tenant to Owner After Eight Years in Boden
HIVE first set up operations in Boden in 2018, choosing the Arctic-adjacent city for its cheap hydroelectric power and naturally cold climate, which cuts cooling costs. Over eight years as a tenant, the company says it invested more than SEK 960 million — roughly $100 million — in the region and paid over SEK 575 million in local taxes, according to Barchart.
Full ownership now lets HIVE bypass lease restrictions that blocked major upgrades. The company plans to bring the site to Tier III standards — a reliability benchmark that requires fully redundant power and cooling systems — to attract enterprise AI and high-performance computing clients. HIVE Sweden Country Site President Johanna Thörnblad called it "HIVE's clearest signal yet that Sweden is part of our long-term global strategy to build sovereign AI compute," according to PR Record Gazette.
Boden Bets on HIVE as a Long-Term Tech Anchor
The Boden Municipal Council's approval was framed locally as a civic win. Mayor Béatrice Öman said the acquisition "strengthens both our business community and Boden's position as a place for technologically advanced establishments." The city has seen HIVE grow from a single data center tenant into the naming sponsor of HIVE Arena and a backer of 12 youth hockey teams and a new women's team in the Boden Hockey League.
HIVE also plans to work with Boden Municipality and the Research Institute of Sweden (RISE) on waste-heat recovery — capturing the heat generated by servers and piping it into broader community use. The partnership has prior form: RISE and HIVE previously ran a 300-square-meter greenhouse in sub-zero Boden that used data center heat to grow vegetables, according to GuruFocus.
COO Dumps Entire Direct Stake Days Before Announcement
While HIVE signals a long-term future in Sweden, its COO Luke Rossy sold his entire direct common share position in June 2026. He offloaded 215,000 shares for roughly $854,000 on June 8, then sold another 66,700 shares at a weighted average of $4.57 per share on June 3, according to GuruFocus. Total insider sales came to about $1.2 million over the prior three months.
The timing has drawn scrutiny. The COO's 100% exit from his direct holdings came just days before the dual announcement of the Boden acquisition and the $220 million Bell Canada deal. Analysts at TipRanks hold a "Neutral" rating on the stock, pointing to "deeply negative free cash flow" despite 158% revenue growth over the past year, according to GuruFocus.
A $220 Million AI Contract Fuels the Stock Rally
The Boden approval did not stand alone. HIVE also disclosed a three-year, $220 million contract to supply GPU computing power to Bell Canada and AI firm Cohere. The deal is part of HIVE's broader push to reposition itself from a Bitcoin miner into an AI infrastructure provider. The stock jumped nearly 12% in early trading on the news, according to Barchart.
HIVE's market cap sits at roughly $1.07 billion. The company raised $115 million in convertible notes earlier in 2026 to fund GPU expansion. Ownership of the 32 MW Boden site, once upgraded to Tier III, is meant to be the physical backbone for those AI ambitions — a permanent anchor in one of Europe's most power-rich and climate-friendly data center markets, according to PR Record Gazette.
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