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

HIVE Digital and Keel Infrastructure are intensifying their focus on artificial intelligence infrastructure, marking a significant shift in the sector beyond bitcoin mining. HIVE has raised $115 million through a convertible note offering to bolster its global data center presence and GPU capacity. The funds will be used to expand its Tier III data centers in Canada, Sweden, and Paraguay, which will support bitcoin mining, AI, and high-performance computing workloads. Keel, on the other hand, has sold its 70 MW Paraguay site for approximately $13 million, facilitating its exit from Latin America. The company plans to redirect the proceeds into its HPC and AI pipeline, effectively bringing forward two to three years of expected cash flow. Following these announcements, shares of both companies have climbed by roughly 7%.