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

HIVE Digital and Keel Infrastructure are strengthening their focus on artificial intelligence infrastructure, reflecting a sector-wide shift beyond bitcoin mining. HIVE has raised $115 million through a convertible note offering to expand its data center presence and GPU capacity globally. The funds will be used to develop Tier III data centers in Canada, Sweden, and Paraguay, catering to 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 proceeds from the sale will be redirected into Keel's HPC and AI development pipeline, accelerating its growth plans. According to CEO Ben Gagnon, this strategic move brings forward two to three years of expected cash flow, underscoring the company's commitment to supporting the AI economy in North America. Following these announcements, shares of both HIVE and Keel have climbed by about 7%.