- Hive will use it to mine more Bitcoin and power its new ASIC servers
- The price of the facility will be paid in cash and common shares
HIVE Digital Technologies Ltd., a “green” focused data center builder and operator and leading digital asset miner, entered into a property transfer agreement for a Bitcoin mining facility in the city of Boden, Sweden, the company announced on its website.
The center was part of EU Horizon 2020 project
The new facility is near Hive’s existing data center and was built as part of the EU Horizon 2020 project. Hive shares it’s looking forward to further improving this facility within its group and using it to mine more Bitcoin and integrate its incoming new generation ASIC servers.
HIVE Sweden Country President Johanna Thornblad stated:
The property is strategically located and provides HIVE with the opportunity to expand its operation, contributing to the company’s overall growth strategy. The new data center will enable HIVE to grow its regional footprint while further demonstrating its commitment to its ESG focus, sustainable practices, environmental responsibility, and energy efficiency with its newest “green” energy powered data center.
Payment in cash and common shares
The price of the facility will be paid in cash and common shares. Up to $750,000 is payable in cash, and up to $1,500,000 is payable in shares of the company’s capital in two installments.
The first installment will be made up of a number of shares equal to $1,000,000 divided by the issue price and payment must be made on the closing date.
The second installment will be made up of a number of shares equal to $500,000 minus any amount due to the company divided by the issue price.
Building long-term value for investors
Hive’s key investment is in line with its commitment to develop long-term value for its investors by acquiring and developing substantial assets to add to its balance sheet. What’s more, it contributes to the industry’s sustainable growth.
