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

HIVE Digital and Keel Infrastructure are intensifying their focus on AI 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 presence and GPU capacity. The company is concentrating on developing Tier III data centers in Canada, Sweden, and Paraguay, catering to bitcoin mining, AI, and high-performance computing workloads. Keel, on the other hand, has sold its 70 MW Paraguay site for approximately $13 million, marking its exit from Latin America. The proceeds will be reinvested in Keel's HPC and AI pipeline, bringing forward two to three years of expected cash flow. Both companies' stocks have risen by around 7% following the announcements.