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

The digital mining companies HIVE and Keel are intensifying their focus on artificial intelligence infrastructure, marking a significant shift in the sector's approach. HIVE has raised $115 million through a convertible note offering to enhance its global data center presence and GPU capacity. The company is concentrating on developing Tier III data centers in Canada, Sweden, and Paraguay, designed to support bitcoin mining, AI, and high-performance computing workloads. Keel, on the other hand, has sold its 70 MW site in Paraguay for approximately $13 million, facilitating its exit from Latin America. The proceeds from this sale will be invested in Keel's HPC and AI ventures, accelerating its strategic transition. According to CEO Ben Gagnon, this move allows Keel to bring forward its expected cash flow by two to three years, underscoring the company's commitment to building infrastructure for the AI economy in North America. Following these announcements, the shares of both HIVE and Keel have experienced a notable increase of roughly 7%.