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HIVE Digital Technologies ( (TSE:HIVE) ) just unveiled an update.
HIVE Digital Technologies announced the completion of Phase 2 of its Yguazú project in Paraguay, reaching a global Bitcoin mining capacity of 18 EH/s, ahead of schedule. The project utilizes renewable hydroelectric energy from the Itaipú Dam, and the company is now mining over 8.5 Bitcoin per day. With the completion of Phase 3 at the Valenzuela site expected by U.S. Thanksgiving, HIVE aims to increase its daily Bitcoin production to approximately 12 BTC, representing about 3% of the global Bitcoin mining network. This expansion underscores HIVE’s commitment to sustainable growth and operational efficiency, leveraging its dual business model of Bitcoin mining and AI cloud computing.
The most recent analyst rating on (TSE:HIVE) stock is a Hold with a C$4.00 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.
HIVE Digital Technologies shows strong technical momentum and strategic growth in its HPC business, but faces significant challenges in profitability and valuation. The earnings call provided positive guidance, yet regulatory and operational risks remain.
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 diversified multinational digital infrastructure company that builds and operates sustainable blockchain and AI infrastructure data centers powered exclusively by renewable hydroelectric energy. With a global presence in Canada, Sweden, and Paraguay, the company focuses on operational excellence, green energy leadership, and scaling digital finance and computing to create long-term value for shareholders and host communities.
Average Trading Volume: 1,418,770
Technical Sentiment Signal: Sell
Current Market Cap: C$865.9M
See more data about HIVE stock on TipRanks’ Stock Analysis page.