According to HIVE's latest earnings update, its 32-megawatt Big Boden facility could generate approximately USD 45 million annually under a proposed long-term lease.
The company initially disclosed the arrangement in June through a nonbinding letter of intent with an unnamed investment-grade Swedish technology company. The proposed agreement could extend for 10 years.
During Tuesday's earnings call, CEO Aydin Kilic confirmed that negotiations included deposits, termination provisions and financing-related conditions.
“We do not want to rush into a deal just for the sake of reporting new top-line revenue,” Kilic said, according to the earnings call transcript.
HIVE intends to secure a definitive lease before arranging financing, potentially through corporate bonds. No completion date has been announced.
