HIVE and Keel Boost AI Data Center Presence with Funding and Asset Deals

Digital mining companies HIVE and Keel are intensifying their focus on artificial intelligence infrastructure, reflecting a broader industry shift beyond bitcoin mining. HIVE has raised $115 million via a zero-interest convertible note, which will be used to expand its global data center network and increase GPU capacity. This move aims to accelerate the development of Tier III data centers in Canada, Sweden, and Paraguay, supporting workloads in bitcoin mining, AI, and high-performance computing. Meanwhile, Keel has sold its 70 MW site in Paraguay for approximately $13 million, marking its exit from Latin America. The funds generated from this sale will be redirected into Keel's AI and high-performance computing pipeline, with CEO Ben Gagnon stating that the proceeds will bring forward two to three years of expected cash flow. Both companies have seen their shares increase by roughly 7% following these announcements, underscoring their commitment to the AI economy in North America.