HIVE Digital upsizes note to $115m to fuel AI and GPU cloud expansion

HIVE Digital Technologies Ltd (TSX:HIVE, NASDAQ:HIVE, FRA:YO0, BVC:HIVECO) CEO Aydin Kilic joined Proactive's Stephen Gunnion to discuss the company's upsized US$115 million zero-coupon exchangeable note offering and how it will accelerate HIVE's AI infrastructure, GPU cloud and HPC ambitions. Kilic explained that the financing, originally launched at US$100 million before being upsized, offers a low-cost source of capital to support HIVE's scaling strategy, with room for further expansion. He pointed to the company's recent agreement with Cohere involving around 2,300 NVIDIA GPUs, plus another significant GPU opportunity in the pipeline, with proceeds earmarked to help finance future GPU acquisitions. The discussion also covered HIVE's Boden, Sweden facility, where municipal approval to purchase the land marks a major milestone in converting the site into a Tier III HPC data centre. Kilic said the financing will help fund the long-lead equipment needed for that upgrade. On dema...