HIVE Shifts Focus from Swedish Bitcoin Mining to Canadian AI Data Centers

According to The Block, HIVE Digital Technologies announced a phased reduction of its Bitcoin mining operations at its facility in Boden, Sweden, while simultaneously expanding its artificial intelligence infrastructure in Canada. HIVE stated that its Swedish subsidiary has long faced tax disputes and regulatory uncertainty, with Swedish authorities requiring cash collateral for contested tax assessments, making it difficult to sustain economically viable ASIC-based mining operations. The company is reallocating resources toward AI and high-performance computing initiatives in Europe and exploring the possibility of a full exit from Bitcoin mining in Sweden. Meanwhile, HIVE’s subsidiary, BUZZ High Performance Computing, announced an expansion of its liquid-cooled AI data center capacity in Canada.