Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
HIVE Digital Technologies ( (TSE:HIVE) ) has shared an update.
HIVE Digital Technologies has achieved a significant milestone by surpassing 16 EH/s in global Bitcoin mining hashrate, with plans to reach 25 EH/s by U.S. Thanksgiving. The expansion in Paraguay, particularly at the Yguazú site, is a key driver of this growth, enabling HIVE to double its Bitcoin production since May. The company’s strategic focus on energy efficiency and scaling operations is expected to enhance its market position and generate substantial cash flow for shareholders.
The most recent analyst rating on (TSE:HIVE) stock is a Buy with a C$11.00 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’ overall score reflects financial challenges with declining revenues and negative profitability. However, positive technical indicators and strategic expansions in Bitcoin mining and AI infrastructure provide growth potential. The valuation remains a concern due to negative earnings, but recent corporate events and strategic initiatives offer a 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 diversified multinational digital infrastructure company operating in the Bitcoin mining industry. The company focuses on expanding its global Bitcoin mining hashrate and improving energy efficiency through the deployment of next-generation mining equipment.
YTD Price Performance: -21.44%
Average Trading Volume: 1,255,635
Technical Sentiment Signal: Sell
Current Market Cap: C$745.8M
See more insights into HIVE stock on TipRanks’ Stock Analysis page.