HIVE Digital Technologies to Cease Bitcoin Mining Operations in Sweden

HIVE Digital Technologies has announced plans to gradually shut down its ASIC Bitcoin mining operations at its Boden facility in Sweden. According to Foresight News, the decision is primarily due to enforcement actions by Swedish tax authorities concerning VAT compliance and disputes over tax assessments, making the continuation of traditional Bitcoin mining economically unfeasible in the country. The company is currently upgrading the 7 MW Boden facility from a Bitcoin computing power production base to a Tier-III AI data center supporting NVIDIA GB300 architecture. HIVE emphasizes its commitment to maintaining a 'dual-engine' model, generating cash flow through Tier-I Bitcoin mining operations while securing high-profit recurring revenue from Tier-III AI computing power services.