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

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 presence and GPU capacity. 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 will be redirected into Keel's HPC and AI initiatives, accelerating its plans by two to three years. Both companies have seen a 7% increase in their stock prices following the announcements, demonstrating a positive market response to their strategic moves.