HIVE Secures 10-Year LOI for 25 MW HPC Colocation and 10,000 GPUs
HIVE•HIVE signed a non-binding LOI for a 10-year lease of its 32 MW Boden, Sweden facility, securing roughly 25 MW of critical IT load for HPC colocation. The company plans to retrofit the site to host up to 10,000 GB300 GPUs at 150 kW per rack using hybrid direct-to-chip and air cooling.
1. LOI for Boden Facility
HIVE has signed a non-binding letter of intent with an investment-grade sovereign Swedish client for an up to 10-year lease of its 32 MW Boden, Sweden facility. The agreement targets approximately 25 MW of critical IT load dedicated to high-performance computing colocation and remains subject to negotiation of a definitive lease.
2. Facility Retrofit Plans
Under the LOI, HIVE will retrofit the Boden site to support up to 10,000 GB300 GPUs with single-rack densities up to 150 kW. The upgrade will deploy hybrid direct-to-chip liquid cooling alongside air cooling to optimize power efficiency and compute density.
3. Financial and Revenue Impact
HIVE anticipates the long-term colocation lease will drive significant annual recurring revenue and create stable cash flows. Utilization of 25 MW of IT load at commercial HPC rates could materially enhance HIVE's margins and support expansion of its GPU computing segment.
4. Strategic and Community Significance
The Boden facility, operational since 2018 with approximately 130,000 GPUs, represents a strategic cornerstone in HIVE's global footprint. Securing a sovereign Swedish client underlines HIVE’s commitment to digital sovereignty and reinforces nearly a decade of local investments and partnerships in the region.
