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HIVE Digital Technologies ( (TSE:HIVE) ) has issued an update.
HIVE Digital Technologies has achieved a significant milestone by surpassing 11 Exahash per second (EH/s) in Bitcoin mining hashrate, completing Phase 1 of its Yguazú site in Paraguay ahead of schedule. This expansion, powered by 100% renewable hydroelectricity, aligns with HIVE’s commitment to sustainable growth and positions the company to reach 25 EH/s by Thanksgiving 2025. The project not only enhances HIVE’s operational capacity but also contributes to local communities by creating jobs, improving infrastructure, and supporting economic stability.
The most recent analyst rating on (TSE:HIVE) stock is a Buy with a C$7.50 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 is facing significant financial difficulties, with negative earnings and cash flow issues being primary concerns. Despite these challenges, strategic expansions and growth plans, particularly in Paraguay, offer potential for improvement. Technical analysis shows bearish trends, and valuation remains a concern due to ongoing losses. While growth initiatives provide some optimism, investors should remain cautious.
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 global leader in sustainable digital infrastructure and was the first publicly-traded crypto miner on the TSX Venture Exchange. The company focuses on building and operating sustainable blockchain infrastructure, leveraging renewable energy sources.
Average Trading Volume: 775,364
Technical Sentiment Signal: Sell
Current Market Cap: C$438.1M
For an in-depth examination of HIVE stock, go to TipRanks’ Overview page.