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HIVE Digital Technologies ( (TSE:HIVE) ) has shared an update.
HIVE Digital Technologies has announced an 18% increase in Bitcoin production in June, attributed to its expansion in Paraguay. The company is on track to achieve a production target of 12 Bitcoin per day by the end of the year, with plans to scale up to 25 EH/s by American Thanksgiving. The launch of Phase 2 at its hydro-powered facility in Paraguay is expected to further enhance production efficiency and capacity. Additionally, HIVE’s subsidiary, BUZZ High Performance Computing Inc., is expanding its AI infrastructure in Canada, positioning itself as a key player in the country’s AI sector. The company has also strengthened its capital position through a successful equity program.
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. is a global leader in sustainable digital infrastructure, focusing on Bitcoin mining and high-performance computing. The company is actively expanding its operations with a significant focus on green energy solutions, particularly in Paraguay and Canada.
Average Trading Volume: 870,202
Technical Sentiment Signal: Sell
Current Market Cap: C$621.9M
See more data about HIVE stock on TipRanks’ Stock Analysis page.