HIVE Raises $115M and Keel Sells Paraguay Site to Accelerate AI Data Center Expansion

HIVE Digital secured $115 million through a zero interest convertible note offering to expand its Tier III data centers and boost GPU capacity for artificial intelligence and high-performance computing workloads. The company said the funding will support expansion across its facilities in Canada, Sweden and Paraguay, where infrastructure supports both bitcoin mining and AI-driven computing services.

The financing structure includes capped call protection designed to limit shareholder dilution while accelerating development of its global data center footprint. The move reflects a broader shift among crypto mining firms toward diversified computing services as demand for AI infrastructure continues to grow.

Keel Exits Latin America to Refocus on North America

Keel Infrastructure sold its 70-megawatt Paraguay site for approximately $13 million, completing its exit from Latin America after citing deteriorating bitcoin mining economics. CEO Ben Gagnon said the sale effectively brings forward two to three years of expected cash flow, which will be redirected into the company’s North America-focused AI and HPC pipeline.

Following the announcements, shares of both HIVE Digital and Keel Infrastructure rose roughly 7%, signaling investor confidence in their transition toward AI-driven infrastructure.

Disclaimer

This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.