HIVE Digital Technologies has announced a $300 million 'at-the-market' equity offering to boost its financial flexibility. This move follows a record quarter where the company reported a 285% increase in revenue, reaching $87.3 million, and a 77% rise in Bitcoin production, totaling 717 coins. The equity offering will be facilitated through banks such as KBW and Stifel.
In addition to its cryptocurrency mining operations, HIVE is expanding into artificial intelligence infrastructure. The company has acquired land for a new data center powered by renewable energy, which will support over 25,000 GPUs. Despite these developments, HIVE's stock has declined from a three-year high of over $6.60 in October to approximately $3.10.
HIVE Digital Technologies Launches $300M Equity Offering After Record Revenue
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