HIVE Digital, a mining company, is shifting its strategy: reducing Bitcoin mining in Sweden and increasing investment in AI data centers in Canada.

According to a report by The Block on March 16th, listed Bitcoin mining company HIVE Digital Technologies is undergoing a major strategic adjustment. Due to tax disputes and operational uncertainty, the company plans to gradually scale back its Bitcoin mining operations in Sweden while significantly expanding its artificial intelligence (AI) data center capabilities in Canada. HIVE stated that its ASIC Bitcoin mining operations in Boden, Sweden, are facing challenges such as "misuse of existing tax rules" by local authorities, including mandatory margin requirements, which have created operational uncertainty. Therefore, the company is gradually scaling back this business and redeploying resources to its AI and high-performance computing strategy in Europe, potentially exiting Bitcoin production entirely in Sweden in the future. Meanwhile, through its subsidiary BUZZ High Performance Computing, HIVE plans to quadruple its liquid-cooled AI data center capacity in Canada, increasing it from 4 megawatts (MW) in Manitoba to 16.6 MW across two provinces. The new capacity includes a 5 MW hosting facility in British Columbia, which can be expanded to 12.6 MW.