** HIVE Digital Technologies' HIVE.O shares tumble 11.5% to $3.67 on Thurs as it seeks additional capital

** HIVE early Thurs annouced private offering of $100 mln 0% exchangeable notes due 2031

** It intends to use net offering proceeds for general corporate purposes, capital investment, including purchase of graphics processing units, and data center development

** Also may use some proceeds to pay for capped call transactions used to offset potential dilution

** HIVE tapped the capital markets in Apr with an offering of $100 mln 0% exchangeable notes due Apr 15, 2031

** On May 18, HIVE's stock surged nearly 29% after Situational Awareness, a fund run by former OpenAI exec Leopold Aschenbrenner, disclosed a new stake among other AI infrastructure-related names

** With the decline, HIVE shares up 42% YTD and about 90% over the past three months

** 6 analysts rate the stock "buy", 1 other rates "hold"; median PT $7.50, per LSEG data