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HIVE Digital Technologies ( (TSE:HIVE) ) has provided an update.
HIVE Digital Technologies has completed the acquisition of a 7.2 MW data center in Toronto, Canada, through its subsidiary BUZZ High Performance Computing. This acquisition will upgrade the facility to Tier 3 standards, expanding BUZZ’s footprint in Canada and enhancing its capabilities in AI and HPC. The move aligns with HIVE’s strategy to transform former Bitcoin mining facilities into AI-ready infrastructure, strengthening its market position and partnership with Bell Canada. The acquisition, valued at CAD$17.25 million, underscores HIVE’s commitment to leading digital infrastructure transformation and meeting the growing demand for AI and enterprise cloud solutions.
The most recent analyst rating on (TSE:HIVE) stock is a Hold with a C$5.50 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 has a moderate overall score driven by strong technical momentum but offset by poor financial performance and valuation metrics. The lack of profitability and cash flow issues are significant concerns, while the bullish technical indicators provide some positive outlook.
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 green digital infrastructure, initially established in Canada in 2017 as the first publicly traded crypto-miner on the TSX-V, powered by renewable energy. The company has diversified into a technology firm with two main focuses: Bitcoin mining and High Performance Computing (HPC) through its BUZZ HPC subsidiary.
Average Trading Volume: 1,721,121
Technical Sentiment Signal: Buy
Current Market Cap: C$1.25B
See more insights into HIVE stock on TipRanks’ Stock Analysis page.