Hive Digital secures $22 million in private financing round

Bitcoin miner Hive Digital, based in Vancouver, Canada, has completed a $22 million private financing round.

According to a 28 December announcement, the raise was carried out through the sale of 5.75 million special warrants for CAD 5 ($3.87) each, bringing in total proceeds of CAD 28.75 million.

The warrants consist of one unit of common stock and half a common share purchase warrant.

The net proceeds from the round are expected to be used to support the growth of Hive's Bitcoin mining operations, as well as for working capital and corporate purposes.