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 capabilities and GPU capacity. The company is concentrating on developing Tier III data centers in Canada, Sweden, and Paraguay, which will support bitcoin mining, AI, and high-performance computing workloads. Meanwhile, Keel is streamlining its operations by selling its 70 MW site in Paraguay for approximately $13 million, marking its exit from Latin America. The proceeds from this sale will be reinvested into Keel's AI and high-performance computing pipeline in North America, with CEO Ben Gagnon stating that this move brings forward two to three years of expected cash flow. Following these announcements, shares of both HIVE and Keel have climbed by roughly 7%.