HIVE Digital plans to issue $75 million in exchangeable zero-coupon senior notes and proceed with its listing on the TSX main board.

CoinFeed reported on April 16 that HIVE Bermuda 2026 Ltd., a wholly-owned subsidiary of HIVE Digital, plans to privately issue $75 million in 0% exchangeable senior notes due in 2031, and grant initial purchase options for an additional $15 million in notes. The notes are general unsecured debt of the issuer, senior unsecured by HIVE Digital, and may be settled under certain conditions by the issuer in cash, HIVE common stock, or a combination of both. The company intends to use the proceeds through its subsidiary for general corporate purposes, capital expenditures such as GPUs, and data center construction. It also plans to arrange cash-settled capped call transactions with financial institutions, based on its own funds and part of the proceeds cost, to mitigate stock conversion dilution.