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

HIVE Digital and Keel Infrastructure are intensifying their focus on artificial intelligence infrastructure, reflecting a broader industry shift beyond bitcoin mining. HIVE has raised $115 million through a convertible note offering to enhance its global data center footprint and GPU capacity. The funds will be used to expand Tier III data centers in Canada, Sweden, and Paraguay, supporting bitcoin mining, AI, and high-performance computing workloads. Keel, on the other hand, has sold its 70 MW Paraguay site for approximately $13 million, marking its exit from Latin America. The company will redirect the proceeds into its HPC and AI pipeline, accelerating its transition. CEO Ben Gagnon noted that the sale allows Keel to focus on building the infrastructure backbone for the AI economy in North America, bringing forward two to three years of expected cash flow. Following the announcements, shares of both companies have climbed roughly 7%.