HIVE and Keel Strengthen AI Presence in Data Centers Following Funding and Asset Sale

In a move to bolster their presence in artificial intelligence infrastructure, HIVE Digital and Keel Infrastructure are shifting their focus away from exclusive bitcoin mining. HIVE has raised $115 million via a zero-interest convertible note, which will be used to enhance its global data center footprint and GPU capacity. The company is expanding its Tier III data centers across Canada, Sweden, and Paraguay to accommodate bitcoin mining, AI, and high-performance computing workloads. Meanwhile, Keel is streamlining its operations by selling its 70 MW Paraguay site for approximately $13 million, thus completing its exit from Latin America. The proceeds from the sale will be reinvested into Keel's HPC and AI pipeline, effectively bringing forward two to three years of expected cash flow. Both companies have seen a 7% increase in their shares following the announcements, as they continue to build the infrastructure necessary to support the AI economy in North America.