The LOI is non-binding and subject to the negotiation and execution of a definitive agreement. As previously announced on June 18, 2026, the Boden Municipal Council has approved the Company's acquisition of the Boden facility from Bodens Utvecklings AB.

HIVE has operated at the Boden facility since 2018, including the operation of approximately 130,000 GPUs in the region. Building on that operational foundation, the LOI contemplates a term of up to 10 years for a usable critical IT load of approximately 25 MW.

Pursuant to the LOI, the Company expects to retrofit the facility to support up to 10,000 GB300 GPUs, with single rack densities up to 150 kW, using hybrid direct-to-chip ("DTC") liquid cooling and air cooling. The gross utility load of the site at 32 MW correlates to a critical IT load of approximately 25 MW, which this LOI contemplates for HPC colocation.

HIVE has been deeply embedded in the Boden community for almost a decade, investing in the region, supporting local initiatives, and building partnerships with local stakeholders throughout its operations at the facility. Following rigorous site visits and technical diligence, the Client selected HIVE's Boden facility as its long-term HPC colocation home in Sweden.