Hive Digital Technologies Set to Expand Presence with New Data Center in Sweden
Summary:
Hive Digital Technologies, a cryptocurrency mining company, plans to boost its global footprint through a new property acquisition and data center in Boden, Sweden. The new center will accommodate incoming ASIC servers and has the potential to ramp up its Bitcoin production. It emphasizes Hive's commitment to sustainable practices and the use of green energy. The company aims to use its technology to offer effective alternatives to mainline cloud service providers. This expansion doesn't lessen Hive's involvement in Bitcoin and crypto mining, rather it represents the co-existence of blockchain and AI, both central to Hive's vision of the future.
Hive Digital Technologies, a leader in the field of cryptocurrency mining, recently unveiled its intentions to bolster its worldwide footprint via a new property acquisition and the establishment of a data center in Boden, Sweden. On November 27, Hive made public its property relocation agreement with Turis AB, acquiring a data center originally set up as part of the EU Horizon 2020 project. The freshly acquired property is close to Hive's existing Swedish data center and is intended to be expanded and incorporated into the company's facility network. Aside from housing the upcoming generation of ASIC servers, it is set to provide a boost to the company's Bitcoin production. Hive's Country President for Sweden, Johanna Thornblad, expressed that this new development would not only expand the company's local presence but also continue to demonstrate their dedication to their ESG focus, sustainable practices, environmental stewardship, and energy efficiency with their latest green energy-powered data center.
Operated by Hive, data center facilities are located in Canada, Sweden, and Iceland and advocate the employment of renewable energy in mining digital currency such as Bitcoin in the cloud. Requests for more information on this development have been made to Hive by Cointelegraph.
Aligning with its shift in focus towards financial potentials in AI, cloud computing, and GPUs, Hive removed the term “blockchain” from its formal designation. The firm affirmed plans to utilize its 38,000 Nvidia GPUs to offer efficient alternatives to major cloud service providers, catered to small and medium enterprises. CEO of Hive, Aydin Kilic, and Chairman Frank Holmes, reassured in a discussion with Cointelegraph that the shift towards AI does not diminish Hive's engagement with Bitcoin and crypto mining. According to them, the company is still deeply involved while acknowledging that "blockchain and AI can certainly co-exist" and are irreplaceable "pillars of Web3."
Dating back to September, Hive was among several mining firms involved in the inception of the Digital Power Network (DPN), a coalition associated with the Chamber of Digital Commerce emphasizing the significance of proof-of-work mining. Magazine: This is your brain on crypto: Substance abuse grows among crypto traders.
Published At
11/27/2023 10:05:42 AM
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