HIVE Lands Major 10-Year HPC Colocation LOI with Swedish Client for 10,000 GB300 GPUs
HIVE has more than doubled off its 52-week low of $1.7.
Summary
HIVE Digital Technologies signed a non-binding Letter of Intent for a long-term HPC colocation lease with an investment-grade Swedish client at its Boden facility. The agreement, for up to 10 years, involves retrofitting the facility to support up to 10,000 NVIDIA GB300 GPUs with a 25 MW critical IT load. This follows HIVE's recent acquisition of the Boden facility and its aggressive expansion into AI infrastructure, including a $220 million AI contract announced on June 22nd. The LOI provides significant long-term revenue visibility and validates HIVE's strategy to leverage its data center assets for high-demand AI computing. Watch for the execution of a definitive agreement.
At the time of this announcement, HIVE was trading at $4.48 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.1B. The 52-week trading range was $1.70 to $7.84. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: TMX Newsfile.