HIVE, Keel scale back BTC mining to expand AI infrastructure

Mining companies HIVE Digital (HIVE) and Keel Infrastructure (KEEL) are scaling back their BTC mining operations to expand their investments in artificial intelligence infrastructure, CoinDesk reported. HIVE has raised $115 million through a zero-coupon convertible bond issuance, with the funds earmarked for expanding its global data centers and increasing GPU capacity. The company explained that it is focusing on data centers capable of handling high-performance computing tasks. Meanwhile, Keel is undergoing a business transition, selling its 70-megawatt (MW) mining facility in Paraguay for approximately $13 million.