Business
HIVE Digital Expands Global Presence with the Acquisition of Data Center Facility Located in Sweden
This news release constitutes a "designated news release" for the purposes of the Company's prosp...
About this update from Hive Digital Technologies Ltd
[{"type":"text","content":"HIVE Digital Expands Global Presence with the Acquisition of Data Center Facility Located in SwedenThis news release constitutes a \"designated news release\" for the purposes of the Company's prospectus supplement dated May 10, 2023 to its short form base shelf prospectus dated May 1, 2023.Vancouver, British Columbia--(Newsfile Corp. - November 27, 2023) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the \"Company\" or \"HIVE\"), a leading digital asset miner and \"green\" focused data center builder and operator is pleased to announce that it has entered into a property transfer agreement (the \"Property Transfer Agreement\") with Turis AB (the \"Vendor\") dated November 23, 2023 to acquire (the \"Acquisition\") a data center and the real property (together, the \"Property\") on which it is situated, located in the city of Boden, Sweden (all amounts in US dollars, unless otherwise indicated).This strategic investment aligns with HIVE's commitment to build long-term value for its investors through the acquisition and development of substantial assets to be added to its balance sheet. Moreover, this investment further supports HIVE's sustainable growth and reinforces its position as a key player in the digital technology sector.Located in Boden, Sweden, in close vicinity of our existing data center, this new data center was previously constructed as part of the EU Horizon 2020 project. We are looking forward to further developing this facility within our global portfolio and utilising it to plug our incoming new generation ASIC servers and increasing our Bitcoin production.HIVE Sweden Country President Johanna Thornblad stated: \"We are pleased about this acquisition and our continued expansion in Boden. The Property is strategically located and provides HIVE with the opportunity to expand its operation, contributing to the company's overall growth strategy. 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\" energy powered data center. HIVE is excited about the opportunities that this acquisition brings and looks forward to further contributing to the economic development and prosperity of the Boden community.\" Pursuant to the...