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

As the mining sector continues to diversify beyond bitcoin mining, HIVE Digital and Keel Infrastructure are intensifying their focus on artificial intelligence infrastructure. HIVE has successfully raised $115 million through a convertible note offering, which will be used to expand its global data center presence and increase GPU capacity. This move is part of the company's strategy to establish itself in Tier III data centers across Canada, Sweden, and Paraguay, catering to bitcoin mining, AI, and high-performance computing workloads. The funding, combined with measures to limit dilution, is expected to accelerate this expansion. In a related development, Keel Infrastructure has completed the sale of its 70 MW Paraguay site for approximately $13 million, marking its exit from Latin America. The proceeds from this sale will be redirected into Keel's high-performance computing and AI pipeline, effectively bringing forward two to three years of anticipated cash flow. CEO Ben Gagnon emphasized the company's commitment to building infrastructure that supports the AI economy in North America. Following these announcements, shares of both HIVE and Keel have seen a rise of roughly 7%.