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 beyond bitcoin mining. HIVE has raised $115 million through a convertible note offering to expand its data center presence and GPU capacity globally. The company is concentrating on developing Tier III data centers in Canada, Sweden, and Paraguay, which will support 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 reinvested into Keel's HPC and AI initiatives, accelerating its transition. According to CEO Ben Gagnon, this move brings forward two to three years of expected cash flow, which will be redeployed into the company's AI pipeline. Both companies have seen their shares rise by roughly 7% following the announcements.