Correction: HIVE Digital Shares Fall After Sweden Data Center Deal, US$100 Million Notes Offering
(Corrects the company's ticker to HIVE.TO)HIVE Digital Technologies (HIVE.TO, HIVE) shares fell 11% on Thursday after it signed a letter of intent (LOI) with a Swedish technology company for an up to 10-year lease of the company's 32-megawatt Boden, Sweden facility.The company expects to retrofit the facility to support up to 10,000 GB300 GPUs, with single rack densities up to 150-kilowatt, using hybrid direct-to-chip liquid cooling and air cooling, pursuant to the non-binding LOI.In a separate release, the company said its unit, HIVE Bermuda 2026 Ltd., intended to offer US$100 million of 0% exchangeable senior notes due 2031 in a private offering to persons "reasonably believed to be qualified institutional buyers." The issuer expects to grant the initial purchasers of the notes an option to buy up to an additional US$15 million aggregate principal amount of notes, exercisable within a period of 13 days from and including the date the notes are first issued.Proceeds will be used to fund one or more of HIVE's direct or indirect units, or to make a capital contribution to any such unit or units, which in turn will use such proceeds for general corporate needs, capital investment and data center development, it said.Price: $5.31, Change: $-0.58, Percent Change: -9.85%
