Hive Digital Acquires Swedish Data Center
Hive Digital transitions from tenant to owner of its flagship Swedish compute site, Bitdeer reports a dramatic surge in bitcoin production year-over-year, and Lite Strategy deepens its commitment to the litecoin ecosystem with a lead investment in a zero-knowledge Layer 2 platform. Stay up on the crypto news that matters with "Crypto Currents," daily from The Fly. Join us at 2 PM ET for your essential briefing on the fast-moving world of cryptocurrency on FlyCast radio.HIVE ACQUIRES BODEN DATA CENTER:Hive Digitalreceived Boden Municipal Council approval to purchase the Big Boden 32 MW data center in northern Sweden from Bodens Utvecklings AB, converting the company from an eight-year tenant into the outright owner of its flagship AI compute site, as the company. The acquisition removes a lease-renewal overhang on Hive Digital's most established European infrastructure and strengthens the collateral base available for future capital raises. The Boden site is integral to HIVE Digital Technologies' AI-compute expansion: the company previously disclosed $35M in contracted HPC annualized recurring revenue and management guidance toward $660M ARR by year-end 2028. Owning the facility outright rather than leasing it gives the company operational flexibility to upgrade power capacity, negotiate datacenter colocation agreements, and pursue additional GPU cluster deployments without landlord consent constraints.BITDEER MAY PRODUCTION SURGE:Bitdeerreported mining 921 bitcoin in May, up 370% vs. last year, with self-mining hashrate reaching 70.2 EH/s and AI Cloud annualized recurring revenue holding at approximately $69M at 90% GPU utilization, as the company. Bitdeer also disclosed its Tydal, Norway colocation site is in advanced stages of lease negotiations, a potential near-term revenue conversion catalyst within its 3.0 GW global power portfolio. The 370% production gain reflects both network share gains and the company's aggressive hashrate scaling program. Bitdeer is simultaneously attending the Roth London Conference today, giving management the opportunity to articulate the combined bitcoin mining plus AI Cloud narrative to institutional investors. At 90% GPU utilization, the AI Cloud division is near capacity, suggesting near-term ARR upside is contingent on additional hardware deployments.CRYPTO STOCKS DIVERGE FROM BITCOIN:Strategy, Coinbase, and Robinhoodrose Thursday despite bitcoin and broader crypto prices declining, as risk appetite was boosted by the U.S.-Iran ceasefire agreement, per. The divergence between crypto prices and crypto-linked equities underscores how geopolitical risk-off dynamics can pressure spot crypto while leaving equity proxies, which carry operating leverage to broader fintech and institutional adoption themes, relatively insulated.LITE STRATEGY BACKS LITECOIN LAYER 2:Lite Strategy, the first U.S. public company to hold litecoinas its primary treasury reserve, closed a $1M lead investment in ZK Innovations, developer of LitVM, a zero-knowledge Layer 2 platform built on Litecoin, with the company receiving governance rights and potential future network token allocation in return, as the company. The investment positions Lite Strategy not merely as a treasury holder but as an active participant in litecoin's developer ecosystem at a time when ZK-rollup infrastructure is commanding premium valuations across competing Layer 1 networks.TREASURY AND PLATFORM NOTES:Solai Limiteda 1-for-7 ADS ratio change effective approximately July 6, which will proportionally increase its ADS trading price with no impact on underlying ordinary shares. Hyperscale Datadeclared monthly preferred dividends of $0.2708333 per share on its Series D, 13.00% preferred stock and $0.20833 per share on its Series E, 10.00% preferred stock, both with a June 30 record date and July 10 payment date, as the company.PRICE ACTION:As of time of writing, bitcoinwas trading at $63,531.14, while etherwas trading at $1,730.02, according to.
