Hive Digital, a Bitcoin ( BTC ) miner based in Vancouver, Canada, has closed a $22-million private financing round.

According to the Dec. 28 announcement , the financing was concluded through the sale of 5.75 million special warrants for 5.00 Canadian dollars ($3.87) each, for total proceeds of 28.75 million CAD ($22 million). Each special warrant unit consists of one common stock of the company and half of the common share purchase warrant. Holders can exercise their warrant rights and purchase one Hive share at 6.0 CAD ($4.54) for every two warrants they own before Dec. 28, 2026. Hive Digital stock currently trades at $7.15 CAD ($5.41).

“The Company anticipates the net proceeds of the Offering will be used to support the growth of its Bitcoin mining footprint, as well as for working capital and general corporate purposes,” the company wrote. “HIVE also anticipates being able to HODL [Hold On for Dear Life] all its Bitcoin until the upcoming Halving.”

In November, the company mined an average of 9.2 BTC per day with 4.18 exahash per second (EH/s) of mining capacity. By comparison, the mining capacity of the entire Bitcoin network is 474.812 EH/s.

On Dec. 8, Hive disclosed that its fleet of 3,750 Bitcoin ASIC miners purchased last year has already paid off thanks to a boom in Bitcoin prices. Last month, the company expanded its Bitcoin mining operations in Sweden. Earlier this year, Hive Digital dropped “blockchain” from its corporate name to reflect its “evolving focus” on financial opportunities in artificial intelligence, cloud computing and graphics processing units.

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