HIVE Digital Technologies (Nasdaq: HIVE) is raising $100 million through a debt offering, with the funds earmarked for GPU purchases and data center development as the company accelerates its push into artificial intelligence (AI) infrastructure.
On June 25, HIVE Digital announced that it intends to raise $100 million through a private offering of exchangeable senior notes due 2031.
The offering will be made through HIVE Bermuda 2026 Ltd., its wholly-owned subsidiary, and is targeted at qualified institutional buyers.
The company has also granted initial purchasers an option to purchase up to an additional $15 million in notes within 13 days of the offering closing, bringing the potential total to $115 million.
Related: HIVE Digital acquires 32 MW Swedish data center after 8 years as tenant
What the notes are and how they work
The notes carry a 0% interest rate, meaning HIVE will not pay regular interest to holders.
Instead, the notes are exchangeable. Under certain conditions, holders can convert them into cash, HIVE common shares, or a combination of both, at the company's discretion.
The exact exchange rate will be set at the time of pricing.
The notes are unsecured obligations of the issuing subsidiary, fully guaranteed by HIVE Digital Technologies itself.
What the money is for
HIVE plans to use the proceeds for general corporate purposes, capital investment, specifically including the purchase of graphics processing units, and data center development.
The GPU focus is consistent with HIVE's expanding push into high-performance AI computing infrastructure, alongside its existing Bitcoin mining operations .
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In connection with the offering, HIVE also plans to enter into capped call transactions with one or more financial institutions.
These are derivative instruments designed to reduce the potential dilution of existing shareholders if the notes are eventually exchanged for common shares.
Why this matters
HIVE builds and operates Tier-I and Tier-III data centers across Canada, Sweden, and Paraguay . The company has been expanding its AI computing capabilities alongside its Bitcoin mining business, positioning itself as a dual-engine infrastructure provider.
The $100 million raise comes shortly after HIVE completed a proof-of-concept AI training collaboration with Columbia University in Asunción, Paraguay, which validated the performance of its GPU infrastructure ahead of a larger data center buildout in the country.
The 100 megawatt substation HIVE is constructing in Yguazú, Paraguay is expected to be energised in September 2026, with a new Tier-III data center beginning construction in the autumn and a ready-for-service date targeted for the second half of 2027.
Related: Columbia University study validates HIVE Digital's Paraguay GPU performance
This story was originally published by TheStreet on Jun 25, 2026, where it first appeared in the Innovation section. Add TheStreet as a Preferred Source by clicking here.
