HIVE Digital Technologies is preparing to raise $75 million as it accelerates its shift from Bitcoin mining toward AI-driven computing and data center infrastructure.

The company announced plans to issue 0% exchangeable senior notes due in 2031, with the offering targeting institutional investors and including an option to raise an additional $15 million.

Funding Focused on GPUs and Data Centers

HIVE said the proceeds will be used to expand its high-performance computing capabilities, including investments in graphics processing units and data center infrastructure.

The notes will be issued through a wholly owned subsidiary and can be converted under certain conditions, with HIVE retaining flexibility to settle conversions in cash, shares, or a mix of both.

The company also plans to enter capped call transactions to help limit potential shareholder dilution from future conversions.

Stock Drops Following Announcement

Following the news, HIVE’s Nasdaq-listed shares fell 11.5%, underperforming the broader crypto mining sector. The CoinShares Bitcoin Mining ETF also declined slightly by 1.5%.

Despite the market reaction, the raise reflects HIVE’s longer-term strategy to diversify beyond traditional mining revenue.

Pivot to AI Already Underway

HIVE was among the early Bitcoin miners to pivot into high-performance computing, beginning the transition in 2022.

That strategy is starting to show results. In its most recent quarter, the company reported $93.1 million in revenue, up 219% year over year, even as Bitcoin prices remained under pressure and mining difficulty increased.

Earlier this year, HIVE also signed a $30 million deal to deploy 504 Nvidia B200 GPUs for enterprise AI cloud services, signaling deeper involvement in the AI infrastructure space.

Mining Industry Shifts Toward AI

HIVE is not alone in this transition. A growing number of publicly traded Bitcoin miners are moving into AI and high-performance computing.

Companies such as MARA Holdings, Riot Platforms, Bitdeer Technologies, TeraWulf, Hut 8, CleanSpark, and IREN are all leveraging their existing energy access and data center infrastructure to support AI workloads.

This trend reflects a broader industry shift as miners look to stabilize revenues and capitalize on rising demand for AI computing power.

AI Infrastructure Becomes Key Growth Driver

The move toward AI is gaining momentum across the sector.

CoreWeave, a former crypto mining firm, has emerged as a major player in AI cloud infrastructure after pivoting years earlier. The company recently signed a $6 billion deal with trading firm Jane Street and secured a $1 billion equity investment, highlighting the scale of demand for compute resources.

At the same time, other players like Soluna Holdings are restructuring operations to focus more heavily on AI-ready data centers.

Expansion Plans Continue

In addition to the fundraising, HIVE said it has received conditional approval to list its shares on the Toronto Stock Exchange, with trading expected to begin later this month once requirements are met.

As the company deepens its AI strategy, the planned raise signals a continued shift away from reliance on Bitcoin mining toward a broader role in powering next-generation computing infrastructure.

Investors in the United Arab Emirates are continuing to back artificial intelligence and crypto-related assets, even as regional tensions test the Gulf’s ambitions to become a global tech hub.

New data from eToro shows that UAE investors increased their exposure to AI and software stocks during the first quarter, taking advantage of falling prices rather than pulling back from risk.

Investors Lean Into AI Sell-Off

Despite market volatility, UAE investors used the downturn in AI and tech stocks as a buying opportunity.

According to eToro, there was a noticeable increase in holdings of major AI and software companies, including ServiceNow, Super Micro Computer, Adobe, and Oracle. These names saw strong growth in investor interest even as broader market conditions remained uncertain.

The trend suggests that investors are prioritizing long-term themes like AI infrastructure and digital transformation over short-term geopolitical concerns.

Crypto Exposure Remains Intact

Alongside AI investments, crypto exposure has also remained steady.

Strategy Inc., a company closely tied to Bitcoin through its large holdings, ranked as the eighth-most-held stock among UAE investors. This indicates that interest in crypto-linked assets continues despite market fluctuations.

Conflict Adds Pressure but Not Panic

The ongoing conflict involving Iran has introduced new risks for the region, particularly around infrastructure.

A recent Deutsche Bank report highlighted concerns such as reported strikes on data centers in the UAE and Bahrain, as well as potential threats to major AI projects like the planned Stargate campus in Abu Dhabi.

However, rather than triggering a broad risk-off reaction, the situation appears to be encouraging more selective investment strategies.

eToro analyst Josh Gilbert noted that investors are becoming more deliberate in how they allocate capital, maintaining exposure to core tech sectors while adjusting positions within them.

Gulf’s AI Ambitions Remain Strong

Despite these challenges, the Gulf region is expected to continue pushing forward with its AI strategy.

The UAE benefits from key advantages, including access to low-cost energy, a growing pipeline of data center projects, and strong backing from sovereign wealth funds, which collectively manage trillions of dollars in assets.

These factors position the region to remain competitive in the global AI race, even amid geopolitical uncertainty.

Crypto Firms Continue Operations

On the ground, crypto companies in the UAE report that operations remain largely stable.

Firms like HashKey MENA and Binance have continued functioning, supported by cloud-based systems that reduce reliance on physical infrastructure. While some disruptions, such as travel delays and postponed events, have occurred, the overall ecosystem remains active.

Investment firm Ento Capital described the current environment as a shift toward more risk-aware decision-making rather than a full retreat from the region.

Regulatory Clarity Attracts Capital

Dubai’s Virtual Assets Regulatory Authority has continued to roll out its regulatory framework during this period, including clearer rules around token issuance and crypto derivatives.

Regulators believe that transparency and strong oversight will help attract long-term institutional capital, especially during times of market stress when investors prioritize stability and clear guidelines.

Overall, the data suggests that UAE investors remain committed to both AI and crypto as long-term growth themes, even as geopolitical tensions introduce new layers of complexity.

Michael Saylor’s Strategy has added another major Bitcoin purchase to its balance sheet, bringing the company closer to holding 800,000 BTC.

According to an 8-K filing with the US Securities and Exchange Commission, the firm acquired 13,927 Bitcoin for approximately $1 billion between April 6 and April 12.

Holdings Approach 800,000 BTC

The latest purchase was made at an average price of $71,902 per Bitcoin, which is below Strategy’s overall average acquisition cost of $75,577.

With this addition, the company now holds 780,897 BTC, acquired for a total of $59.02 billion. Strategy needs just 19,103 more Bitcoin to reach the 800,000 BTC milestone, having already purchased over 107,000 BTC so far in 2026.

Purchase Funded Through STRC Share Sales

The $1 billion buy was funded through the company’s perpetual preferred equity offering, known as Stretch (STRC).

Strategy sold 10 million STRC shares during the period, generating roughly $1 billion in proceeds. No shares were issued from its other offerings, including STRF, STRK, STRD, or its common MSTR stock.

Data from STRC.live shows that last week marked the second-largest weekly issuance of STRC shares on record, significantly above the recent average. The surge follows changes to the company’s equity sale program introduced in early March.

Continued Accumulation Strategy

Saylor hinted at the purchase ahead of time in a post on X, sharing a chart of Strategy’s Bitcoin acquisition history. The company has now completed 105 Bitcoin purchases since 2020, maintaining a consistent accumulation strategy.

Despite its aggressive buying, Strategy is currently sitting on substantial unrealized losses. In its first-quarter 2026 report, the company disclosed $14.46 billion in unrealized losses on its digital asset holdings.

Market Momentum and Institutional Demand

Strategy’s continued accumulation comes amid broader institutional interest in Bitcoin.

Last week alone, US spot Bitcoin ETFs recorded inflows of $786 million, signaling strong demand from institutional investors.

Bitcoin’s price also saw upward momentum earlier in the week, climbing above $70,000 and briefly surpassing $73,000 before pulling back.

Analysts at Nomura’s Laser Digital pointed to Strategy’s buying activity as one of the key drivers behind the recent price movement, alongside ETF inflows and a rebound in US equities.

However, market volatility remains. Renewed geopolitical tensions, including developments related to a US-Iran situation, triggered a pullback toward $71,000, with analysts expecting continued price fluctuations in the near term.