HIVE Digital is raising $75m in 0% exchangeable notes to fund GPUs and data centers as it pivots from pure bitcoin mining toward AI cloud and eyes a TSX up‑listing.
HIVE Digital Technologies is raisin...

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<p>HIVE Digital is raising $75m in 0% exchangeable notes to fund GPUs and data centers as it pivots from pure bitcoin mining toward AI cloud and eyes a TSX up‑listing.</p>
<adv/><p>HIVE Digital Technologies is raising $75 million via a private offering of 0% exchangeable senior notes due 2031, doubling down on artificial intelligence infrastructure and data centers as it prepares to move its listing to the Toronto Stock Exchange.</p>
<adv/><p>The notes will be issued by HIVE Bermuda 2026 Ltd., a wholly owned subsidiary, to qualified investors in a deal that also includes a 13‑day option for an additional $15 million of paper.</p>
<p>According to HIVE, net proceeds will fund “general corporate purposes and capital investment, including the purchase of graphics processing units and data center expansion,” as the company accelerates its pivot from pure bitcoin mining toward high‑performance computing and AI workloads.</p>
<p>The securities will not bear regular interest and can be exchanged into cash, HIVE common shares, or a mix of both once final pricing and the initial exchange rate are set, giving investors equity‑linked upside without conventional coupons.</p>
<h1>HIVE leans into AI pivot and TSX ambitions</h1>
<p>To offset potential dilution from the exchangeable notes, HIVE “intends to fund capped call transactions using cash on hand,” a structure designed to cap the effective conversion price and reduce pressure on common shareholders if the stock rallies.</p>
<p>The company said part of the net proceeds may be used to reimburse the issuer for those capped call costs, linking the financing directly to equity‑protection mechanics.</p>
<p>HIVE also disclosed it has received conditional approval to list its common shares on the Toronto Stock Exchange, with trading expected to transition from the TSX Venture Exchange around April 30, subject to meeting TSX requirements by June 30, 2026. The miner’s shares closed at $2.47 on Nasdaq on Wednesday, with roughly $42 million in volume, compared with an average of about $24.6 million.</p>
<p>The financing push follows what HIVE called “record” quarterly results in its fiscal third quarter ended Dec. 31, 2025, where it reported $93.1 million in revenue, up 219% year‑over‑year and 7% quarter‑over‑quarter. The company still posted a net loss of $91.3 million, driven by accelerated depreciation tied to its Paraguay expansion and non‑cash revaluation adjustments, underscoring the capital‑intensive nature of its shift beyond bitcoin mining.</p>
<p>In March, HIVE announced it would progressively “phase down” ASIC‑based bitcoin mining at its Boden facility in Sweden amid tax disputes with local authorities while upgrading the site into a Tier‑III high‑performance computing data center. The firm has already launched its first GPU cluster in Asunción, Paraguay, where its BUZZ AI Cloud platform is processing early large language model training workloads, signaling how quickly the business is re‑orienting toward AI cloud services.</p>
<p>In previous crypto.news coverage of miners diversifying into high‑performance computing, reporters highlighted how firms are seeking to smooth bitcoin cycle risk by monetizing GPU compute for AI and enterprise clients, a trend HIVE’s latest financing appears designed to accelerate.</p>
<p>Other crypto.news reporting on miners’ capital markets moves and AI pivots has tracked a similar shift, including pieces on public miners’ debt raises and data‑center conversions in North America.</p>

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HIVE turns to $75m note deal to fund AI and TSX up-listing

HIVE Digital 正在發行 7500 萬美元的 0% 可交換債券，用於投資 GPU 和數據中心，以推動其業務轉型，從純粹的比特幣挖礦轉向人工智能雲服務，並計劃在多倫多證券交易所 (TSX) 上市。

HIVE Digital Technologies 正在籌集資金……

<div><div><p>HIVE Digital 正在發行 7500 萬美元的 0% 可交換票據，用於資助 GPU 和數據中心，該公司正從純粹的比特幣挖礦轉向 AI 雲，並計劃在多倫多證券交易所上市。</p><adv/><p> HIVE Digital Technologies 正在通過私募發行 2031 年到期的 0% 可交換高級票據籌集 7500 萬美元，加倍投資人工智能基礎設施和數據中心，為將其上市地點轉移到多倫多證券交易所做準備。</p><adv/><p>這些票據將由全資子公司 HIVE Bermuda 2026 Ltd. 向合格投資者發行，該交易還包括一項為期 13 天的額外 1500 萬美元票據的選擇權。</p><p>據 HIVE 稱，淨收益將用於“一般公司用途和資本投資，包括購買圖形處理單元和數據中心擴建”，因為該公司正在加速從純粹的比特幣挖礦轉向高性能計算和人工智能工作負載。</p><p>這些證券不會產生定期利息，一旦最終定價和初始匯率確定，即可兌換成現金、HIVE 普通股或兩者的混合物，從而為投資者提供與股票掛鉤的收益，而無需傳統的票息。</p><h1> HIVE 致力於人工智能轉型併力爭在多倫多證券交易所上市</h1><p>為了抵消可交換票據可能造成的股權稀釋，HIVE“打算使用手頭現金為上限期權交易提供資金”，這種結構旨在限制實際轉換價格，並在股價上漲時減輕普通股股東的壓力。</p><p>該公司表示，部分淨收益可能用於償還發行人支付的上限贖回費用，從而將融資與股權保護機制直接聯繫起來。</p><p> HIVE公司還披露，其普通股已獲得多倫多證券交易所（TSX）的有條件批准上市，預計將於4月30日左右從TSX創業交易所過渡到TSX，但前提是必須在2026年6月30日之前滿足TSX的要求。這家礦業公司的股票週三在納斯達克收於2.47美元，成交量約為4200萬美元，而其平均成交量約為2460萬美元。</p><p>此次融資舉措源於HIVE公佈的截至2025年12月31日的第三財季“創紀錄”業績。該季度，HIVE營收達9310萬美元，同比增長219%，環比增長7%。然而，受巴拉圭擴張相關的加速折舊和非現金重估調整的影響，該公司仍錄得9130萬美元的淨虧損，凸顯了其從比特幣挖礦轉型為其他業務的資本密集型特徵。</p><p>今年3月，HIVE宣佈將逐步停止其位於瑞典博登的ASIC礦場的比特幣挖礦活動，原因是與當地政府存在稅務糾紛，同時將該礦場升級為Tier-III級高性能計算數據中心。該公司已在巴拉圭亞松森啟動了首個GPU集群，其BUZZ AI雲平臺正在處理早期的大型語言模型訓練工作負載，這表明該公司正迅速向AI雲服務轉型。</p><p>在之前 crypto.news 對礦工向高性能計算領域多元化發展的報道中，記者重點介紹了各公司如何通過為 AI 和企業客戶實現 GPU 計算貨幣化來尋求平滑比特幣週期風險，而 HIVE 的最新融資似乎旨在加速這一趨勢。</p><p>其他 crypto.news 報道也追蹤到了類似的轉變，包括有關北美公開礦商債務融資和數據中心改造的文章。</p></div></div>

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