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

As the mining sector continues to shift its focus away from exclusive bitcoin mining, HIVE Digital and Keel Infrastructure are investing heavily in artificial intelligence infrastructure. HIVE has raised $115 million through a convertible note offering to expand its data center presence globally and increase GPU capacity. The company is focusing on developing Tier III data centers in Canada, Sweden, and Paraguay, which will support both bitcoin mining and high-performance computing workloads, including AI. The funding is expected to accelerate this expansion without significant dilution. Meanwhile, Keel Infrastructure has sold its 70 MW site in Paraguay for approximately $13 million, marking its exit from Latin America. The proceeds from the sale will be reinvested in Keel's high-performance computing and AI initiatives in North America. According to CEO Ben Gagnon, this move brings forward the company's expected cash flow by two to three years, allowing for faster development of its AI-focused infrastructure. Following these announcements, shares of both HIVE and Keel have seen a significant increase, rising by around 7%.