HIVE Digital and Keel Infrastructure Diversify into AI and HPC

HIVE Digital and Keel Infrastructure, two major players in the Bitcoin mining industry, are making significant strides into artificial intelligence (AI) and high-performance computing (HPC). As the cryptocurrency market experiences volatility and increased competition, both companies have announced new investment strategies aimed at expanding their core business areas.

According to reports, HIVE Digital has raised $115 million through the issuance of zero-interest convertible bonds. The fresh capital will be allocated to increasing data center and GPU capacity, enabling diversification into AI and advanced computing projects.

Keel Infrastructure, previously known as Bitfarms, has also streamlined its business and rebranded, channeling capital into emerging technologies. As part of this strategic refocus, Keel sold its 70-megawatt facility in Paraguay for $13 million, completely withdrawing from the Latin American market.

The move enables Keel to concentrate on developing AI infrastructure in North America. CEO Ben Gagnon emphasized that the sale finalized the company’s exit from Latin America, marking a decisive end to its operations in the region.