HIVE · HIVE Digital Technologies Ltd.

HIVE Digital Technologies announced on June 25, 2026, that it signed a non-binding letter of intent (LOI) with an investment-grade, sovereign Swedish technology company for a long-term colocation lease at its 32 MW facility in Boden, Sweden. This LOI marks a strategic pivot for HIVE, transitioning the site from legacy GPU compute (previously used for Ethereum mining) into a high-performance computing (HPC) and AI data center. The LOI contemplates an 8-to-10 year term for approximately 25 MW of critical IT load. HIVE plans to retrofit the facility to support up to 10,000 NVIDIA GB300 GPUs with rack densities up to 150 kW, utilizing hybrid direct-to-chip liquid cooling and air cooling. The counterparty is described as an investment-grade sovereign Swedish technology company, suggesting strong creditworthiness and long-term partnership potential. The LOI is non-binding and subject to the negotiation and execution of a definitive agreement, highlighting execution risk. However, the facility's operational history since 2018 and the recent approval of HIVE's acquisition of the site by the Boden Municipal Council (announced June 18, 2026) provide a supportive backdrop. If finalized, this lease could generate significant recurring revenue and establish HIVE as a key player in sovereign AI infrastructure. The press release also includes forward-looking statements regarding the anticipated contribution to annual recurring revenue, although no specific financial projections are provided. Investors should monitor progress toward a definitive agreement and the timing of the retrofit.