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

HIVE Blockchain Technologies and Keel Infrastructure are intensifying their focus on artificial intelligence infrastructure, reflecting a wider industry trend shifting away from exclusive bitcoin mining. HIVE has raised $115 million through a convertible note offering to expand its global data center presence and increase GPU capacity. The company is developing Tier III data centers in Canada, Sweden, and Paraguay, designed to support bitcoin mining, AI, and high-performance computing workloads. Meanwhile, Keel has sold its 70 MW Paraguay site 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, accelerating its transition. According to CEO Ben Gagnon, this strategic move brings forward two to three years of expected cash flow, enabling the company to focus on building the infrastructure necessary to support the AI economy in North America. Following these announcements, the shares of both HIVE and Keel have increased by around 7%.