HIVE and Keel Boost AI Data Center Presence with New Funding and Strategic Asset Sale

HIVE Digital and Keel Infrastructure are intensifying their focus on artificial intelligence infrastructure, reflecting a broader industry trend that moves beyond exclusive bitcoin mining. HIVE has raised $115 million through a convertible note offering to enhance its global data center presence and GPU capacity. The company is developing Tier III data centers in Canada, Sweden, and Paraguay, targeting bitcoin mining, AI, and high-performance computing workloads. This strategic expansion, combined with measures to limit dilution, aims to accelerate growth. Meanwhile, Keel is streamlining its operations by selling its 70 MW Paraguay site for approximately $13 million, marking its exit from Latin America. The proceeds from this sale will be reinvested into Keel's high-performance computing and AI initiatives, effectively bringing forward two to three years of anticipated cash flow. CEO Ben Gagnon emphasized the company's commitment to supporting the AI economy in North America. Following these announcements, shares of both HIVE and Keel have climbed roughly 7%.