Hive Digital Secures $115M Convertible Note to Fund GPU and AI Expansion
Hive Digital raised $115 million through a private convertible note offering to fund GPU purchases and data center development for its AI expansion. Hive shares have surged over 31% in the past month and closed at $2.66, marking a 7% gain on the day.
1. Offering Details
Hive Digital closed a $115 million private convertible note sale, with proceeds earmarked for GPU acquisitions and expansion of its AI-focused data center infrastructure. The offering strengthens its balance sheet and provides dedicated capital for high-performance computing projects.
2. AI Expansion Strategy
The funding directly supports Hive’s AI pipeline development, building on its November partnership to power AI workloads. The company plans to deploy the GPUs across existing and new data centers to capture growing demand from enterprise AI customers.
3. Share Price Movement
Hive stock has recovered more than 31% over the last month and ended the session at $2.66, a 7% increase on the day. Investor appetite reflects confidence in the company’s shift from Bitcoin mining to high-margin AI services.