HIVE Digital Raises US$115 Million Note for 2,300 GPU Cohere Deal and Sweden HPC Centre
HIVE•HIVE Digital has upsized its zero-coupon exchangeable note offering to US$115 million, boosting its capital for AI infrastructure, GPU cloud and HPC expansion. The proceeds will fund acquisition of 2,300 NVIDIA GPUs for a Cohere partnership and long-lead equipment for its Tier III HPC data centre in Boden, Sweden.
1. Upsized Exchangeable Note Offering
HIVE Digital increased its zero-coupon exchangeable note from US$100 million to US$115 million, securing low-cost funding to advance its AI infrastructure, GPU cloud and high-performance computing strategy. The upsized offering enhances financial flexibility for future GPU acquisitions and data centre development.
2. GPU Partnerships and Acquisitions
HIVE has committed to supply around 2,300 NVIDIA GPUs to Cohere, leveraging the financing to acquire critical hardware. Management also highlighted an additional significant GPU opportunity in the pipeline, confirming ongoing demand for AI compute resources.
3. Boden, Sweden Tier III HPC Data Centre
The company secured municipal approval to purchase land for its planned Tier III HPC data centre in Boden, Sweden. Proceeds from the financing will underwrite long-lead equipment purchases, moving the site toward operational readiness and stable long-term AI compute contracts.
