HIVE Digital Technologies, a firm focused on cryptocurrency mining and high-performance computing infrastructure, has successfully completed a $115 million private placement of zero-interest convertible senior notes maturing in 2031, according to Odaily. The deal also includes a $15 million over-allotment option.
The company expects to receive net proceeds of about $109.5 million, which will mainly be used for capital investments such as acquiring GPUs, building data centers, and supporting general corporate activities. The funding is also aligned with HIVE’s plan to scale its AI infrastructure capabilities.
The notes carry an initial conversion price of roughly $2.57 per share, reflecting a 17.5% premium over the stock price prior to issuance, along with a capped call premium of up to 125%.
This zero-interest financing has drawn participation from new institutional investors, helping lower the company’s cost of capital while reinforcing its expansion strategy heading into 2026.
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