HIVE Digital Technologies Expands Bitcoin Mining and AI Cloud Operations

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

HIVE Digital Technologies has achieved a significant milestone by surpassing 22 EH/s in Bitcoin mining capacity, marking a 267% growth year-to-date. The company is also accelerating the conversion of its Tier-1 data centers into Tier-3 high-performance computing facilities in Sweden, aiming to expand its AI cloud operations. This strategic move is expected to enhance cash flow generation and strengthen HIVE’s position as a dual-engine digital-power company, bridging blockchain and AI. The expansion is supported by renewable energy sources, ensuring sustainable growth and operational efficiency.

The most recent analyst rating on (TSE:HIVE) stock is a Hold with a C$7.00 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.

The overall stock score is primarily influenced by strong technical indicators, suggesting positive market momentum. However, financial performance challenges, particularly in profitability and cash flow, and a poor valuation score due to negative earnings, weigh down the overall score.

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, primarily focusing on Bitcoin mining and AI cloud services. The company operates hydro-powered facilities, such as its Valenzuela site in Paraguay, and is expanding its AI cloud footprint in Sweden, leveraging renewable energy sources.

YTD Price Performance: 90.29%

Average Trading Volume: 2,738,670

Technical Sentiment Signal: Strong Buy

Current Market Cap: C$1.95B

Find detailed analytics on HIVE stock on TipRanks’ Stock Analysis page.