HIVE Digital's Strategic Shift: Scaling Down Bitcoin Mining in Sweden, Doubling Down on Canadian AI Data Centers

March 16 (The Block) — Publicly traded Bitcoin miner HIVE Digital Technologies is executing a major strategic shift, The Block reported Thursday. Citing tax disputes and operational uncertainties, HIVE said it will gradually scale back its Bitcoin mining operations in Boden, Sweden. The company’s ASIC mining unit there faces challenges from local authorities, including what it describes as “misuse of existing tax rules” (such as mandatory collateral requirements) that have created operational ambiguity. As a result, HIVE is downsizing the operation, reallocating resources to its AI and high-performance computing (HPC) strategy in Europe, and may fully exit Bitcoin production in Sweden down the line. Separately, HIVE — via its subsidiary BUZZ High Performance Computing — plans to quadruple its liquid-cooled AI data center capacity in Canada. Current capacity in Manitoba stands at 4 megawatts (MW); the expansion will boost total capacity across two provinces to 16.6 MW. This includes a 5 MW colocation facility in British Columbia (BC) with the potential to expand to 12.6 MW.