"HIVE Digital Technologies is preparing to raise $75 million through a private offering of exchangeable senior notes, as the crypto miner accelerates its push into data centers and artificial intelligence infrastructure."
"The proceeds will go toward capital investment and expansion, including the purchase of graphics processing units and the development of data centers."
"HIVE's capital raise comes amid strong top-line growth but continued bottom-line pressure, reporting revenue of $93.1 million, more than tripling from a year earlier."
"The offering reflects a broader shift in HIVE's strategy, positioning itself as a provider of high-performance computing and AI services."
HIVE Digital Technologies plans to raise $75 million through a private offering of exchangeable senior notes to expand into data centers and AI infrastructure. The zero-interest notes, due in 2031, will be offered to institutional buyers with an option for an additional $15 million. Proceeds will fund capital investments, including graphics processing units and data center development. HIVE is transitioning from bitcoin mining to high-performance computing, evidenced by recent investments in a GPU cluster in Paraguay. Despite strong revenue growth, the company reported a net loss due to expansion costs.
Read at news.bitcoin.com
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