Cryptomining Company Hive Acquires Boden Type One Data Center in Sweden

Cryptomining company Hive is making a significant move in its expansion strategy by acquiring the Boden Type One data center located in Boden, Sweden. This acquisition marks an important milestone for Hive, allowing it to strengthen its presence and contribute to its overall growth strategy in Boden. The data center, originally developed through the EU Horizon 2020 initiative and built by the Swedish research institute RI.SE, was designed to showcase efficient data center practices.

Background of the Boden Type One Data Center

The Boden Type One data center had a unique purpose – demonstrating how data centers could be made more efficient. Its remarkable Power Usage Effectiveness (PUE) of just 1.0148 was a testament to its success. The facility achieved such efficiency through innovative cooling methods and by taking advantage of the cold ambient temperatures present in Boden.

Unique Features of the Boden Type One Data Center

One of the standout features of the Boden Type One data center was its distinct chicken coop design, which facilitated a natural chimney effect. This design not only provided efficient airflow but also reduced the need for additional cooling mechanisms. Furthermore, the facility eliminated the need for an uninterruptible power supply (UPS) system, further optimizing energy consumption and minimizing costs.

Deployment and Workloads

The Boden Type One data center had a 500kW deployment, consisting of four modular pods tailored to different workloads. These included central processing units (CPUs), graphics processing units (GPUs), and specialized application-specific integrated circuits (ASICs) used for cryptocurrency mining. This diversified approach allowed for optimal utilization of resources and maximized performance.

Ownership Changes

After the project’s conclusion in 2021, the Boden Type One data center was sold to Turis AB, a visual effects rendering business. However, Turis AB recently decided to offload the facility, and Bitcoin miner Hive stepped in. Hive acquired the data center for a sum of $2.25 million, paid in cash and shares, signifying its commitment to expanding its operations and enhancing its presence in Boden.

Regulatory Approvals

While Hive has made the acquisition, certain regulatory approvals, including from the TSX Venture Exchange, are necessary to finalize the deal. These organizations will carefully assess the agreement to ensure compliance with relevant regulations and facilitate a smooth transition of ownership.

Hive’s Growth Strategy

For Hive, the acquisition of the Boden Type One data center presents a significant opportunity. It aligns perfectly with the company’s overall growth strategy in Boden, allowing Hive to expand its operations and consolidate its position as a major player in the cryptocurrency mining industry. By capitalizing on the efficient design and infrastructure of the Boden Type One facility, Hive aims to enhance its mining capabilities and drive further growth.

The acquisition of the Boden Type One data center by Hive represents a pivotal moment for the company and its strategic expansion plans. This move enables Hive to tap into the innovative and efficient practices pioneered by the data center, enhancing its mining operations while contributing to its overall growth in Boden. As regulatory approvals are obtained, the future looks promising for Hive as it bolsters its presence in the cryptocurrency market.

Explore more

Onsite Meetings Drive Success with Business Central

In an era where digital communication tools dominate the business landscape, the enduring value of face-to-face interaction often gets overlooked, yet it remains a powerful catalyst for effective technology implementation. Imagine a scenario where a company struggles to integrate a complex system like Microsoft Dynamics 365 Business Central, grappling with inefficiencies that virtual meetings fail to uncover. Onsite visits, where

Balancing AI and Human Touch in Modern Staffing Practices

Imagine a hiring process where algorithms sift through thousands of resumes in seconds, matching candidates to roles with uncanny precision, yet when it comes time to seal the deal, a candidate hesitates—not because of the job, but because they’ve never felt a genuine connection with the recruiter. This scenario underscores a critical tension in today’s staffing landscape: technology can streamline

AI’s Transformative Power in Wealth Management Unveiled

I’m thrilled to sit down with a true visionary in the wealth management space, whose extensive experience and forward-thinking approach have made them a leading voice on the integration of technology in finance. With a deep understanding of how artificial intelligence is reshaping the industry, they’ve guided numerous firms through the evolving landscape of client services and operational efficiency. Today,

Navigating WealthTech Risks and Trends for 2025 with Braiden

Allow me to introduce Nicholas Braiden, a pioneering figure in the FinTech space and an early adopter of blockchain technology. With a deep-rooted belief in the power of financial technology to revolutionize digital payments and lending, Nicholas has spent years advising startups on harnessing tech to fuel innovation. Today, we dive into his insights on navigating the complex landscape of

Trend Analysis: 5G Giga Sites Revolutionizing Connectivity

Imagine a bustling urban center where thousands of people stream high-definition content, engage in real-time gaming, and conduct critical business operations simultaneously, all without a glitch in connectivity. This vision is becoming reality with the advent of 5G Giga Sites, a transformative force in mobile networks that promises to redefine how society interacts with data. As digital demands soar with