HIVE Digital Technologies Ltd. has launched an at-the-market (ATM) equity program to raise up to $300 million, providing financial flexibility to support its expansion into high-performance computing and AI infrastructure. The program allows the company to sell common shares through selected financial institutions, including KBW, Stifel, and Cantor Fitzgerald, at prevailing market prices, with no obligation to sell, and will remain in place until the $300 million cap is reached or terminated.
This initiative aligns with HIVE's dual-engine strategy, which leverages bitcoin mining revenue to fund the development of renewable-powered data centers. The company recently acquired a 32.5-acre property in Grand Falls, New Brunswick, aimed at hosting over 25,000 GPUs for AI workloads and compute scaling. HIVE's quarterly results underscore this approach, with revenue surging 285% year-over-year to $87.3 million and bitcoin production increasing 77% to 717 BTC from the prior quarter.
Regulatory filings, including a Canadian Prospectus Supplement on SEDAR+ and a U.S. registration on EDGAR, ensure compliance, while the company's focus on hydroelectric energy emphasizes sustainability across its global operations in Canada, Sweden, and Paraguay.
