HIVE Digital completes $115 million zero-interest convertible note financing

Odaily Planet Daily News: HIVE Digital Technologies, a technology company specializing in crypto mining and high-performance computing hosting, announced that its subsidiary has completed a $115 million private placement of 0% interest convertible senior notes (due in 2031), including a $15 million oversubscription option.

HIVE Digital said that the net proceeds from this financing are approximately $109.5 million, which will mainly be used for capital expenditures (including GPU procurement), data center construction, and general corporate purposes, and will support its AI infrastructure expansion strategy. The initial conversion price of the notes is approximately $2.57 per share, representing a premium of about 17.5% over the pre-issuance share price, with the capped hedge price premium reaching 125%. The zero-interest financing has brought in a new batch of institutional investors, and helps achieve its 2026 growth target while reducing its cost of capital.

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