The cryptocurrency mining firm Hive Digital Technologies has revealed plans to develop its world presence by means of a brand new acquisition of property and a data center in Boden, Sweden.
On Nov. 27, the corporate announced that it entered a property switch settlement with Turis AB to take over the property of a data center beforehand constructed as part of the European Union’s Horizon 2020 undertaking.
Hive stated this new property is in “close vicinity” to its current data center in Sweden, and it plans to additional develop the ability in its portfolio. It says the property may also home its incoming technology of ASIC servers and improve its Bitcoin (BTC) manufacturing.
Johanna Thornblad, Hive’s nation president for Sweden, stated:
“The new data center will enable HIVE to grow its regional footprint while further demonstrating its commitment to its ESG focus, sustainable practices, environmental responsibility, and energy efficiency with its newest “green” vitality powered data center.”
Hive owns and operates data center services in Canada, Sweden, and Iceland, and it promotes using inexperienced vitality to mine digital belongings akin to BTC on the cloud.
Cointelegraph has reached out to Hive for extra info on the event.
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Earlier in 2023, Hive dropped the word “blockchain” from its official title to replicate its “evolving focus” on monetary alternatives in synthetic intelligence (AI), cloud computing and graphics processing items (GPUs).
The firm then stated it plans to make use of its 38,000 Nvidia GPUs to supply small and medium-sized companies a extra environment friendly various to main cloud service suppliers.
The CEO of Hive, Aydin Kilic, and its chairman, Frank Holmes, told Cointelegraph in an interview that the pivot towards AI doesn’t negate or reduce its involvement in Bitcoin and crypto mining. Instead, they stated the corporate remains to be closely concerned however that “blockchain and AI can certainly co-exist” and stay “pillars of Web3.”
In September, Hive was one of many mining corporations concerned in launching the Digital Power Network (DPN), which is a coalition affiliated with the Chamber of Digital Commerce to emphasize the significance of proof-of-work (PoW) mining.
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