The cryptocurrency mining company Hive Digital Technologies expands its global presence
Cryptocurrency mining company Hive Digital Technologies has announced its plans to expand globally through the acquisition of a property and data center in Boden, Sweden. The company entered a property transfer agreement with Turis AB to take over a data center previously built as part of the European Union’s Horizon 2020 project. The new property is located near Hive’s existing data center in Sweden and will be developed to house their incoming generation of ASIC servers, increasing their Bitcoin production. Hive aims to grow its regional footprint and demonstrate its commitment to sustainable practices and energy efficiency with this “green” energy powered data center.
Hive’s focus on financial opportunities in AI, cloud computing, and GPUs
Earlier this year, Hive dropped the word “blockchain” from its official name to reflect its evolving focus on financial opportunities in artificial intelligence (AI), cloud computing, and graphics processing units (GPUs). The company plans to utilize its 38,000 Nvidia GPUs to provide small and medium-sized businesses with a more efficient alternative to major cloud service providers. This strategic shift aligns with Hive’s goal of staying at the forefront of technological advancements in the crypto industry.
Hive’s involvement in the Digital Power Network (DPN)
In September, Hive was among the mining companies that participated in launching the Digital Power Network (DPN), a coalition affiliated with the Chamber of Digital Commerce. The DPN aims to emphasize the importance of proof-of-work (PoW) mining. As a supporter of PoW mining, Hive recognizes its significance for maintaining the security and decentralization of blockchain networks.
Hot Take: Hive expands its global presence with sustainable practices
Hive Digital Technologies’ acquisition of a property and data center in Boden, Sweden marks its expansion into new territories. With a focus on sustainable practices and energy efficiency, Hive demonstrates its commitment to environmental responsibility. By utilizing “green” energy to power its data center, Hive aims to grow its regional footprint while maintaining its ESG focus. This strategic move positions Hive as a key player in the crypto mining industry, allowing them to increase their Bitcoin production and support the development of blockchain networks.
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