HIVE Digital Completes $115 Million Zero-Coupon Convertible Note Financing

Odaily Planet Daily reports that 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 zero-coupon senior convertible notes (maturing in 2031), including a $15 million overallotment option, reflecting strong institutional demand. HIVE Digital stated that the net proceeds of approximately $109.5 million from this financing will primarily be used for capital expenditures (including GPU procurement), data center construction, and general corporate purposes, as well as supporting 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 stock price, with a capped call premium reaching 125%. The zero-coupon financing has introduced a new group of institutional investors while reducing capital costs, aiding in the achievement of its 2026 growth targets.