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

HIVE Digital and Keel Infrastructure are intensifying their focus on artificial intelligence infrastructure, reflecting a broader industry shift away from exclusive bitcoin mining. HIVE has raised $115 million through a convertible note offering to enhance its global data center presence and GPU capacity. The funds will be used to expand 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 from the sale will be redirected into Keel's high-performance computing and AI pipeline, effectively bringing forward two to three years of anticipated cash flow. This strategic move follows Keel's recent rebranding and demonstrates its commitment to supporting the AI economy in North America. Both companies have seen their shares rise by roughly 7% following these announcements.