The Bitcoin miner will use the proceeds to expand GPU capacity and data centers as it scales its high-performance computing business beyond mining.
HIVE Digital Technologies said it plans to raise $75 million through a private offering of 0% exchangeable senior notes due 2031, with proceeds expected to fund GPU purchases, data center development and other capital investments.
According to Thursday’s announcement, the notes will be issued by a wholly owned subsidiary and offered to qualified institutional buyers, with an option to raise an additional $15 million. Final terms, including the exchange rate, will be set at pricing.
The notes will be exchangeable under certain conditions, with HIVE able to settle conversions in cash, common shares or a combination of both. They will not bear regular interest, will not accrete and are unsecured obligations of the issuer, fully guaranteed by HIVE.
