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SEC filingHIVE Digital Technologies announced a $100M private offering of 0% exchangeable senior notes due 2031, with an option for an additional $15M, to fund capital investments and data center development.
HIVE Digital Technologies, through its wholly-owned subsidiary HIVE Bermuda 2026 Ltd., is conducting a private offering of $100 million in 0% exchangeable senior notes due 2031, with an underwriter option for an additional $15 million. The notes carry no periodic interest and will be exchangeable into cash, common shares, or a mix at the issuer's election, with terms to be set at pricing. Proceeds are earmarked for capital investments, including GPU purchases and data center development, underscoring the company's focus on expanding its high-performance computing and Bitcoin mining infrastructure. Concurrently, HIVE plans to enter capped call transactions to mitigate dilution from note conversions. This financing strengthens HIVE's balance sheet with low-cost, long-term capital, but increases leverage. The private placement avoids immediate shareholder dilution and registration costs, while the capped calls provide a hedge. Investors should monitor the final exchange rate and use of proceeds for alignment with growth targets.