$HIVEJun 25, 2026, 11:01 AMAI processed
HIVE inks LOI for up to 10-year HPC colocation at Boden to host up to 10,000 GB300 GPUs
AI Summary
HIVE signed a non-binding letter of intent with an investment-grade sovereign Swedish technology client for up to a 10-year lease of its 32 MW Boden facility, with Boden Municipal Council having approved HIVE's acquisition of the site. The LOI contemplates retrofitting the site to support roughly 25 MW of critical IT load (up to 10,000 GB300 GPUs, single-rack densities to 150 kW) using hybrid direct-to-chip liquid and air cooling, which management says could drive significant recurring revenue, but the deal, retrofit, timing and financial impacts remain subject to definitive agreements and execution risk.
Positives
- LOI with an investment-grade sovereign Swedish client for up to a 10-year lease at the Boden site
- Plan to retrofit Boden to support up to 10,000 GB300 GPUs and ~25 MW of critical IT load (high-density, liquid-cooled racks)
- Boden facility acquisition was approved by the municipal council and HIVE has operated in the region since 2018
Negatives
- LOI is non-binding and must convert to a definitive lease to be enforceable
- Retrofit, acquisition closing, timing and costs are forward-looking and may not occur as planned
- No financial terms, revenue run-rate or timeline disclosed for the colocation agreement