HIVE Digital drops after exchangeable debt deal announced

HIVE Digital Technologies

16/04/2026 12:21

** AI compute firm HIVE Digital Technologies HIVE.O shares down 3.6% premarket at $2.38 after planned capital raise news

** San Antonio, Texas-headquartered firm late Weds announced private offering of $75 mln 0% exchangeable notes due 2031

** Intends to use net offering proceeds for general corporate purposes, capital investment, including purchase of graphics processing units, and data center development

** Also plans to use some proceeds to fund capped calls, derivative transactions employed to mitigate potential dilution

** HIVE has roughly $645 mln market cap, per LSEG data

** Through Weds close, stock down 4% YTD and ~68% below 1-yr intraday high of $7.84 reached on Oct 10

** 7 analysts rate the stock "buy", 1 other rates "hold"; median PT $6 - LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))