HIVE Digital Technologies Ltd. (NASDAQ:HIVE) stock climbed nearly 10% in Thursday’s premarket trading after the company announced plans to acquire a 32-megawatt data center in Boden, Sweden.

Nasdaq futures are up 1.50% while S&P 500 futures have gained 0.62%.

HIVE Digital To Acquire 32 MW Sweden Data Center

HIVE said it will acquire the 32-megawatt Big Boden data center in Sweden after receiving approval from the Boden Municipal Council, transitioning from tenant to owner of the facility it has operated since 2018.

After closing, HIVE plans to upgrade the facility to Tier III standards to support enterprise AI and high-performance computing workloads, including NVIDIA’s latest GPU architectures. The acquisition remains subject to customary closing conditions.

The company said the purchase will give it full control over the site’s future expansion while supporting its long-term strategy to build sovereign AI computing infrastructure.

HIVE Unit, Bell, Cohere Launch Canadian Sovereign AI Infrastructure Partnership

Separately, BCE Inc. (formerly Bell Canada) (NYSE:BCE), Cohere, Hypertec, and BUZZ High Performance Computing (HPC), a subsidiary of HIVE, announced a partnership to expand sovereign AI infrastructure in Canada.

Bell will provide data center capacity from its Merritt, British Columbia, facility, BUZZ HPC will deliver AI cloud infrastructure using Hypertec’s Canadian-built hardware and NVIDIA’s DSX AI factory platform, and Cohere will deploy its enterprise AI models on the platform.

The companies said the collaboration aims to support secure, production-scale AI workloads for government and enterprise customers while strengthening Canada’s digital sovereignty and AI ecosystem.

Read Also: HIVE Rallies On Plans For Large-Scale AI Compute Facility In Canada

Technical Picture Remains Positive

HIVE has gained more than 125% over the past 12 months, reflecting strong long-term momentum. The stock continues to trade above its 20-day simple moving average of $4.09 and its 50-day simple moving average of $3.19.

However, the technical picture is not entirely clear. The 50-day moving average remains below the 200-day moving average, a bearish pattern known as a “death cross” that formed earlier this year.

Momentum has also weakened in the short term. The MACD remains below its signal line, suggesting buying pressure has eased. Immediate resistance is near the $5.00 level.

Earnings And Analyst Expectations

Wall Street expects HIVE to report fiscal first-quarter results around Aug. 13, 2026.

Analysts expect the company to post a loss of 19 cents per share on revenue of $82.53 million, compared with revenue of $45.61 million in the year-ago quarter.

The stock carries a consensus Buy rating with an average price forecast of $6.68. Recent analyst actions include:

  • Keefe, Bruyette & Woods raised its price forecast to $5.00 while maintaining a Market Perform rating on June 5.
  • Canaccord Genuity maintained its Buy rating and $10.00 price forecast on June 5.
  • B. Riley Securities raised its price forecast to $8.00 while maintaining a Buy rating on June 3.

Price Action

HIVE Stock Price Activity: HIVE Digital Technologies shares were up 9.57% at $4.35 during premarket trading on Thursday, according to Benzinga Pro data.

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