Odaily Planet Daily report: HIVE Digital Technologies, a technology company specializing in cryptocurrency mining and high-performance computing hosting, announced that its subsidiary has completed a private placement of $115 million in 0% interest convertible senior notes due in 2031, including an additional $15 million overallotment option.
HIVE Digital stated that the net proceeds of approximately $109.5 million from this financing will be primarily used for capital expenditures (including GPU purchases), data center construction, and general corporate purposes, supporting its strategy to expand its AI infrastructure. The initial conversion price of the notes is approximately $2.57 per share, representing a premium of about 17.5% over the pre-offering stock price, with a capped hedge price premium of up to 125%. This zero-interest financing brings in a new group of institutional investors and helps achieve its 2026 growth objectives while reducing capital costs.