HIVE Digital Technologies Ltd (TSX-V:HIVE, NASDAQ:HIVE, FRA:YO0, BVC:HIVECO) announced that it plans to raise approximately $75 million through a private offering of exchangeable senior notes due in 2031.
The notes will carry no regular interest and will be exchangeable under certain conditions into cash, the company’s common shares, or a combination of both.
Final terms, including the exchange rate, will be determined at the time of pricing. An option has also been provided for initial purchasers to acquire up to an additional $15 million in notes within a limited period following issuance.
The company stated that proceeds from the offering are expected to be directed toward its subsidiaries, which will use the funds for general corporate purposes, capital investments such as graphics processing units, and the development of data center infrastructure.
In connection with the transaction, HIVE expects to enter into capped call arrangements with financial institutions. These transactions are designed to reduce potential dilution to existing shareholders and offset certain cash obligations that could arise if the notes are exchanged.
Separately, HIVE said it has received conditional approval to list its common shares on the Toronto Stock Exchange. The company expects its shares to begin trading on the exchange around the end of April 2026, subject to meeting listing requirements.