HIVE Digital Technologies Secures $115 Million in Zero-Interest Convertible Notes

HIVE Digital Technologies, a company specializing in crypto mining and high-performance computing hosting, has announced the completion of a $115 million private placement of zero-interest convertible senior notes due in 2031. According to Odaily, the offering includes an additional $15 million over-allotment option. The company stated that the net proceeds of approximately $109.5 million will be primarily allocated towards capital expenditures, including GPU procurement, data center construction, and general corporate purposes. This funding will also support HIVE Digital's strategy to expand its AI infrastructure. The initial conversion price of the notes is set at approximately $2.57 per share, representing a 17.5% premium over the pre-issuance stock price, with a capped call premium reaching 125%. The zero-interest financing has attracted a new group of institutional investors, helping to reduce capital costs and support the company's growth objectives for 2026.