HIVE Sees Potential $45 Million in Annual Revenue From Sweden AI Colocation Plan

HIVE Digital Technologies says its 32-megawatt Big Boden facility in Sweden could generate approximately $45 million in annual colocation revenue through a proposed artificial intelligence and high-performance computing arrangement.

The opportunity is not yet contracted. HIVE’s letter of intent, signed on June 25, 2026, is non-binding and remains subject to negotiations, definitive agreements, financing, facility upgrades and the start of service.

The company has also said the potential revenue is not included in its contracted GPU Cloud annual recurring revenue. The figure therefore represents a prospective outcome rather than booked or contracted revenue.

Proposed deal covers up to 10 years

The letter of intent involves an unnamed Swedish technology company and contemplates a colocation lease of up to 10 years at the Big Boden site.

HIVE said the planned retrofit could support up to 10,000 GB300 GPUs. Delivering that capacity would require the facility work and other execution steps described by the company.

The latest reporting also described negotiations over financing-related terms and customer protections, including deposits and termination rights. These details underscore that commercial terms remain under discussion.

Revenue estimate remains conditional

HIVE reiterated that the 32 MW facility represents about $45 million in potential annual colocation revenue if definitive agreements are completed and the project enters service.

The company has identified several conditions before that result can be realized: final agreements, investment requirements, financing, retrofit work and execution. No conclusion should be drawn that the revenue will be generated until those conditions are met.

The proposed project illustrates the broader effort among some mining infrastructure operators to pursue AI and HPC workloads alongside their existing operations. Other companies are also developing HPC-related revenue streams, including Cipher Digital’s first reported HPC lease revenue.

What to watch next

The key next step is whether HIVE and the prospective customer execute a definitive agreement. The letter of intent itself does not obligate either party to complete the transaction.

Investors and industry observers will also be watching for clarity on financing, retrofit timing, customer commitments and the date at which any colocation service could begin. Until then, the $45 million figure remains HIVE’s estimate of potential annual revenue under the proposed arrangement.

Continue reading: Cipher Digital’s first reported HPC lease revenue on BTCNews.

Continue reading: Core Scientific’s plan to wind down Bitcoin mining on BTCNews.

Sources

• Decrypt: Bitcoin Miner HIVE Eyes $45 Million in Annual Revenue From AI Deal
• HIVE Digital Technologies: HIVE Reports Q2 Revenue of $84.9 Million with AI GPU Revenue Expanding 70% as Dual-Engine Model Drives Resilience with $139 Million in Cash on the Balance Sheet
• HIVE Digital Technologies: HIVE Signs Long-Term HPC Colocation LOI with Investment-Grade Swedish Client at Boden

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