HIVE Digital's Strategic Adjustment: Cut Back on Bitcoin Mining in Sweden, Expand AI Data Centers in Canada

Publicly listed Bitcoin mining company HIVE Digital Technologies recently announced a major strategic adjustment: it plans to gradually reduce its Bitcoin mining operations in Sweden while significantly expanding its AI data center capabilities in Canada. This adjustment stems from tax disputes and operational uncertainties in Sweden, including controversies over the misuse of existing tax rules by local authorities and mandatory deposit requirements, which have put the business at risk.

Through its subsidiary BUZZ High Performance Computing, HIVE will increase the capacity of its liquid-cooled AI data centers in Canada from 4 MW in Manitoba to 16.6 MW across two provinces. This includes a new 5 MW hosting facility in British Columbia, which can be expanded to 12.6 MW. The move aims to redirect resources to the more growth-potential AI computing power sector, leveraging existing asset advantages such as stable power supply and cooling infrastructure.