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The latest update is out from HIVE Digital Technologies ( (TSE:HIVE) ).
HIVE Digital Technologies announced a significant expansion with a new 100 MW hydroelectric-powered data-center in Paraguay, aiming to increase its Bitcoin mining capacity to 35 EH/s by 2026. This expansion, alongside strategic partnerships like the one with Bell Canada, positions HIVE as a prominent player in the digital infrastructure space, leveraging renewable energy to drive growth in both Bitcoin mining and AI operations.
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
Founded in 2017, HIVE Digital Technologies Ltd. is a leader in sustainable blockchain and artificial intelligence infrastructure, operating data centers across Canada, Sweden, and Paraguay. The company focuses on Bitcoin mining and high-performance computing, powered exclusively by green energy.
Average Trading Volume: 2,760,605
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$1.95B
Learn more about HIVE stock on TipRanks’ Stock Analysis page.