According to ChainCatcher, The Block reports that publicly traded Bitcoin mining company HIVE Digital Technologies is undergoing a major strategic shift. Due to tax disputes and operational uncertainties, 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, HIVE, through its subsidiary BUZZ High Performance Computing, 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 colocation facility in British Columbia, which can be expanded to 12.6 MW.
