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

The AI infrastructure sector is witnessing significant growth, with HIVE Digital and Keel Infrastructure at the forefront. HIVE has raised $115 million through a convertible note offering to enhance its global data center presence and GPU capacity. This move is part of the company's broader strategy to shift away from exclusive bitcoin mining and towards artificial intelligence and high-performance computing. HIVE's data centers, located in Canada, Sweden, and Paraguay, are designed to support both bitcoin mining and AI workloads. The recent funding, combined with measures to limit dilution, is expected to accelerate the company's expansion plans. In a parallel development, Keel Infrastructure has completed the sale of its 70 MW Paraguay site for approximately $13 million, marking its exit from Latin America. The proceeds from this sale will be reinvested in the company's HPC and AI pipeline, effectively bringing forward two to three years of anticipated cash flow. According to CEO Ben Gagnon, this strategic move underscores Keel's commitment to building the infrastructure necessary to support the AI economy in North America. The announcements have been well-received by investors, with both companies' shares rising by roughly 7%.