HIVE Digital Technologies Surpasses Milestones in Bitcoin Mining and GPU Cloud Growth

HIVE Digital Technologies ( (TSE:HIVE) ) has issued an announcement.

HIVE Digital Technologies has achieved a significant milestone by surpassing 10 Exahash per second (EH/s) in Bitcoin mining hashrate, with plans to reach 11.5 EH/s by June 2025. This growth is part of a strategic expansion towards a target of 25 EH/s by Q4 2025, fully funded and ahead of schedule. Additionally, HIVE’s subsidiary, Buzz HPC, has exceeded expectations by achieving a $20 million annualized run-rate revenue in its GPU cloud business, reinforcing its position as a leader in GPU cloud infrastructure.

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. is a pioneering technology company that focuses on sustainable blockchain and AI infrastructure powered by green energy. As the first cryptocurrency miner to go public on the TSX Venture Exchange in 2017, HIVE has established itself as a global leader in digital asset mining and AI computing, with operations in Canada, Sweden, and Paraguay.

Average Trading Volume: 867,983

Technical Sentiment Signal: Sell

Current Market Cap: C$494M

For a thorough assessment of HIVE stock, go to TipRanks’ Stock Analysis page.