In brief
- HIVE says its 32-megawatt Big Boden facility in Sweden could generate $45 million in annual AI colocation revenue.
- The proposed 10-year arrangement remains nonbinding, with financing and final lease terms still under negotiation.
- The project is separate from HIVE’s $185 million in contracted GPU-cloud annualized revenue.
Bitcoin miner HIVE Digital Technologies is eyeing $45 million in annual revenue from an AI data center in Sweden, but it still hasn’t secured a final lease.
In its latest earnings update, HIVE reiterated that its 32-megawatt Big Boden facility could generate the sum through a long-term colocation arrangement. That revenue depends on a definitive agreement, financing, facility upgrades, and the project entering service.
The company first disclosed the proposal in June. It involves an unnamed, investment-grade Swedish technology company and contemplates a lease lasting up to 10 years. During Tuesday’s earnings call, CEO Aydin Kilic said the parties were negotiating deposits, termination rights, and other terms that could affect financing costs. A lender’s consultant had visited the site the previous week, he said.
“We do not want to rush into a deal just for the sake of reporting new top-line revenue,” Kilic said,
