HIVE Digital to raise $75 million for AI and data centers

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HIVE Digital Technologies (Nasdaq: HIVE) is preparing to raise $75 million to fuel its growth in the artificial intelligence (AI) and data center sectors.

On Apr. 15, the company announced that its subsidiary, HIVE Bermuda 2026 Ltd., intends to offer $75 million in specialized "exchangeable senior notes" to large institutional investors.

These notes are essentially a form of debt that can be converted into HIVE common shares, cash or both by the year 2031.

A notable feature of this deal is that the notes carry 0% interest, meaning the company will not have to make regular interest payments to the lenders.

Additionally, the investors have an option to purchase an extra $15 million worth of notes within 13 days of the initial launch.

Funding for next-gen technology

HIVE plans to put this new capital to work immediately. According to the announcement, the money will be used for general corporate growth, data center development, and the purchase of new hardware, specifically graphics processing units (GPUs).

These chips are the essential "brains" required to power modern AI applications.

To protect current shareholders, HIVE is also entering into "capped call" transactions. This is a common financial strategy designed to reduce "dilution"—which happens when too many new shares are created and lower the value of existing ones.

These transactions help manage the cost of the deal while keeping the company's stock structure stable.

Moving to Toronto Stock Exchange

Alongside the fundraise news, HIVE revealed a major upgrade for its stock listing. The company has received conditional approval to move its shares from the TSX Venture Exchange to the main Toronto Stock Exchange (TSX).

This move is expected to take place around April 30, 2026, provided the company meets all final requirements by the end of June. Trading on a larger exchange often provides a company with more visibility and access to a wider range of global investors.

Leader in green infrastructure

Founded in 2017, HIVE was the first publicly traded company to focus on mining digital assets using green energy. Today, the firm operates next-generation data centers in Canada, Sweden, and Paraguay.

By combining its Bitcoin mining operations with high-performance AI computing, HIVE aims to provide environmentally responsible solutions for the evolving digital economy.

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