Hive Digital Technologies has obtained a data center and land to diversify its Swedish operations, boost the production of Bitcoin, and accommodate the forthcoming generation of ASIC servers.
Hive Digital Technologies, a cryptocurrency mining firm, has disclosed intentions to expand its international presence by acquiring property as well as a data center in Boden, Sweden.
On November 27, the firm said it partnered with Turis AB to take control of a data center’s property. Previously, this center’s construction was part of the European Union’s (EU’s) Horizon 2020 initiative.
Hive Digital Technologies Expands its Operations in Sweden
Hive Digital Technologies claimed its new property is ‘quite close’ to its present Swedish data center and intends to make additional developments to the facility in its portfolio. Further, the crypto miner claims the property will boost the production of Bitcoin and accommodate its forthcoming generation of ASIC servers.
According to Hive national president for Sweden, Johanna Thornblad, the data center will allow the mining firm to expand its domestic footprint while further showing its dedication to its ESG focus, environmental obligation, feasible strategies, and energy efficacy using its most recent ‘green’ energy-driven data center.
Currently, Hive possesses and runs data centers across Sweden, Canada, and Iceland and advocates for green energy utilization for digital assets mining on the cloud. Despite a request for additional information regarding the development, Hive did not provide any.
Crypto Miners Prepares for Bitcoin Halving
Earlier this year, Hive removed the word ‘blockchain’ from its official name to demonstrate its ‘changing emphasis’ on financial opportunities in artificial intelligence (AI), graphics processing units (GPUs), and cloud computing. Later, the firm revealed its intentions to utilize its 38000 Nvidia graphic processing units to provide small and medium-sized businesses a more practical option to major providers of cloud services.
In an interview, Aydin Kilic, Hives chief executive officer, and Frank Holmes, its chairman, said the pivot towards artificial intelligence does not diminish or refute its involvement in Bitcoin as well as crypto mining. Rather, the firm remains significantly involved, but ‘artificial intelligence and blockchain can coexist’ and remain ‘Web3’s pillars.’
In September, Hive was one of the mining firms that participated in unveiling the Digital Power Network (DPN). This alliance is affiliated with the Chamber of Digital Commerce to emphasize the significance of proof-of-work (PoW) mining.
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