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

In a move to strengthen their presence in the AI infrastructure sector, HIVE Digital and Keel Infrastructure are expanding their focus beyond bitcoin mining. HIVE has raised $115 million through a convertible note offering to increase its global data center footprint and GPU capacity. This strategic move is part of the company's broader plan to establish Tier III data centers in Canada, Sweden, and Paraguay, catering to bitcoin mining, AI, and high-performance computing workloads. The funding is expected to accelerate the buildout of these facilities. Meanwhile, Keel Infrastructure has sold its 70 MW site in Paraguay for approximately $13 million, marking its exit from Latin America. The proceeds from this sale will be redirected towards developing the company's AI and high-performance computing infrastructure in North America. According to CEO Ben Gagnon, this move brings forward the company's expected cash flow by two to three years, which will now be invested in Keel's HPC and AI pipeline. The announcements have led to a significant increase in the stock prices of both companies, with a rise of roughly 7%.