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Bitcoin Miner HIVE Eyes $45 Million in Annual Revenue From AI Deal
HIVE Digital Technologies says its proposed AI data centre in Boden, Sweden, could generate $45 million in annual revenue, but negotiations have not produced a final lease. The deal matters to HIVE’s effort to expand beyond Bitcoin mining, though the projected income depends on financing, upgrades and the facility entering service.
The 32-megawatt site could be fitted with liquid cooling and up to 10,000 Nvidia GB300 GPUs, providing the proposed customer with about 25 megawatts of computing capacity. HIVE is negotiating lease terms with an unnamed investment-grade Swedish technology company, and expects to seek financing after an agreement is signed. It reports $185 million in contracted annualised GPU-cloud revenue, of which $40 million is live, and is targeting about $700 million in high-performance computing revenue by the end of 2028.
In short
- HIVE’s Swedish AI data centre could bring in $45 million a year.
- The proposal still needs a signed lease and financing.
- The Boden facility could support up to 10,000 Nvidia GPUs.
Steelman: both sides, in good faith
The strongest fair case each way — we don't pick a winner.
The case for
The proposed lease could give HIVE a substantial, recurring source of revenue and help it diversify beyond Bitcoin mining. If the customer signs, financing is secured and the upgrades are completed, the Boden site’s power capacity and planned GPUs could support a significant AI computing business.
The case against
The $45 million figure is a projection, not contracted revenue: lease terms remain under negotiation, and financing, upgrades and the facility’s launch are still outstanding. The scale of HIVE’s wider revenue ambitions therefore depends on several steps succeeding, while the reported live GPU-cloud revenue is only part of its contracted annualised total.