HIVE Digital Technologies Acquires Toronto Data Center to Boost AI and HPC Infrastructure

HIVE Digital Technologies ( (TSE:HIVE) ) has issued an announcement.

HIVE Digital Technologies has announced the acquisition of a 7.2 MW data center in Toronto, marking a significant step in its strategy to enhance high-performance computing infrastructure and develop a sovereign Canadian AI ecosystem through its subsidiary, BUZZ HPC. This acquisition positions BUZZ HPC as a leader in Canada’s digital infrastructure, enabling the deployment of advanced compute infrastructure to support AI workloads for Canadian enterprises and government initiatives. The move aligns with HIVE’s commitment to sustainable digital infrastructure and positions the company to lead in the next-generation AI and HPC data center industry.

The most recent analyst rating on (TSE:HIVE) stock is a Buy with a C$7.50 price target. To see the full list of analyst forecasts on HIVE Digital Technologies stock, see the TSE:HIVE Stock Forecast page.

Spark’s Take on TSE:HIVE Stock

According to Spark, TipRanks’ AI Analyst, TSE:HIVE is a Neutral.

HIVE Digital Technologies is facing significant financial difficulties, with negative earnings and cash flow issues being primary concerns. Despite these challenges, strategic expansions and growth plans, particularly in Paraguay, offer potential for improvement. Technical analysis shows bearish trends, and valuation remains a concern due to ongoing losses. While growth initiatives provide some optimism, investors should remain cautious.

To see Spark’s full report on TSE:HIVE stock, click here.

More about HIVE Digital Technologies

HIVE Digital Technologies Ltd., founded in 2017, is a global leader in sustainable digital infrastructure, initially recognized as the first publicly-traded crypto miner on the TSX Venture Exchange. The company operates blockchain and AI infrastructure powered by renewable hydroelectric energy, with a presence in Canada, Sweden, and Paraguay. HIVE is committed to operational excellence, green energy leadership, and creating long-term value for its shareholders and host communities.

YTD Price Performance: -46.28%

Average Trading Volume: 763,413

Technical Sentiment Signal: Sell

Current Market Cap: C$429.1M

See more insights into HIVE stock on TipRanks’ Stock Analysis page.