Hive Digital Technologies Acquires New Data Center in Sweden
In an advanced report, the fast-paced crypto mining firm in Canada, Hive Digital Technologies, revealed plans to acquire a Swedish-based data center, Turis AB. The proposed acquisition aims to support the mining company to expand its market presence in Sweden.
In a November 27 blog post, the Hive group confirmed that upon reaching the property transfer agreement with Turis AB, the mining company will have entire control over its Boden-based data center.
Hive Technologies Expands its Operation in Sweden
Initially, the acquired data center was created to support the attainment of the European Union’s Horizon 2020 research and innovation goals. A report from the mining company revealed that the proximity of the existing data center to that of Turis AB was much closer.
The mining company stated that due to the suitability of the new data center, the Hive team will invest in upgrading the facility to its standards. Primarily the acquisition of the new data center aimed at enabling the mining company to double down its mining capabilities and increase Bitcoin production.
Elsewhere, the president of Hive Technologies Sweden, Johanna Thornblad, stated that the new data center will help the mining company establish a strong footprint in the region.
Hives Seeks to Decarbonize Bitcoin Mining Activities
Besides the acquisition, the executive confirmed that Hives seeks to attain its Environmental, Social, and Corporate Governance (ESG) objectives. The new data center will support Hives in developing sustainable and environmentally friendly practices.
The executive believes that the new data center will increase the production of green energy which aligns with the company core objective.
Interestingly, the decarbonization initiative has proven fruitful in Hives data centers in Canada, Iceland, and Sweden. This development aims at redefining the crypto mining activities to attain net-zero Carbon emissions.
In pursuit of promoting green operations, the Canadian Bitcoin miner were inspired to rebrand to Hive Digital Technologies to support the adoption of artificial intelligence (AI) technologies.
Bitcoin Miners Adopts AI in Mining
The company stated that the rebranding of the mining company demonstrated Hives’ commitment to expanding its revenue streams. Reportedly, the mining company plans to leverage artificial intelligence (AI), cloud computing, and graphics processing units (GPUs) to power its mining activities.
The company will also integrate 38,000 Nvidia GPUs to support cloud service providers. Commenting on Hives’ latest development, the chief executive of the mining company, Aydin Kilic, confirmed that blockchain and AI technologies can be used simultaneously in crypto-mining activities.
The CEO stated that Hives will continue to support the growth of Web3 by leveraging emerging technologies. A few months ago, Hives Technologies joined forces with the Chamber of Digital Commerce to launch a digital power network (DPN) to support crypto miners and increase their profitability.
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