The company's stock has recovered from the crypto winter with a gain of 244% year-to-date.
Hive Digital, a Bitcoin miner based in Vancouver, British Columbia, has closed a $22 million private financing round.
According to the Dec. 28 announcement, the financing concluded through the sale of 5.75 million special warrants for CA$5.00 ($3.87) each, for total proceeds of CA$28.75 million ($22 million). Each special warrant unit consists of one common stock of the company and half of the common share purchase warrant. Holders can exercise their warrant rights and purchase one Hive share at CA$ 6.0 ($4.54) for every two warrants they own before December 28, 2026. Hive Digital stock currently trades at CA$7.15 ($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."
