HIVE Digital (HIVE) is breaking records in tandem with Bitcoin’s recent ascent to its new all-time high of around $118K. After months of rough weather for crypto miners, the blockchain and AI infrastructure company is roaring back. It’s doubled its Bitcoin hashrate, punched past a $250 million revenue run rate, and sent its stock sharply higher.
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HIVE shares surged more than 6% on Friday to $2.47, lifting HIVE’s market cap to roughly $530 million. That’s a 21% jump over the past month, tracking closely with Bitcoin’s own rally above $118,000. A stock that looked left for dead just weeks ago now has momentum—and muscle—behind it.
HIVE Doubles Hashrate, Sets Sights on $400 Million
Let’s talk scale. HIVE’s Bitcoin mining capacity just hit 12 exahashes per second (EH/s), doubling from 6 EH/s earlier this year. For context, one exahash equals one quintillion hash computations per second—this isn’t just speed, it’s power. Mining rewards depend on these computations, and in a competitive field, bigger hash equals bigger share of the pie.
That upgraded hash rate is already pulling in over $250 million annually. And the company says it’s not done. If it reaches its 18 EH/s target, projected revenue could surge past $400 million.
CEO Aydin Kilic says they’re now mining over six Bitcoin daily, operating with an impressive 55% margin, even after April’s halving slashed block rewards in half.
HIVE Flexes Strength as One of Bitcoin’s Largest Public Holders
In crypto, cash on hand often means Bitcoin on balance sheets. HIVE holds 2,201 BTC, making it one of the 20 largest public holders in the world. That stash alone is worth over $250 million at current prices.
It’s more than a number—it’s leverage, liquidity, and a strategic buffer in a volatile sector where many rivals are running thin on reserves.
Miners Face Pressure, But HIVE Powers Through
Since the most recent halving, mining has become more brutal. Revenue per block dropped overnight by 50%, forcing many miners to either upgrade their rigs or shut down. Add in rising electricity costs and expensive hardware, and margins across the industry have been crushed.
Yet HIVE is holding its ground. By investing early in next-gen hardware and optimizing energy efficiency, it’s avoided the fate of less-prepared peers. The result is a leaner, faster, more profitable operation—exactly what Wall Street wants to see in the post-halving era.
HIVE Leans Into AI to Unlock New Revenue Streams
But HIVE isn’t putting all its chips on Bitcoin. It’s tapping into a second growth engine: artificial intelligence.
The company has started repurposing parts of its GPU fleet, traditionally used for mining Ethereum and other coins, into AI and high-performance computing (HPC) workloads. This pivot is more than just clever, it’s essential. AI demand is exploding, and companies that can supply compute power are in a prime position to capture that surge.
Other miners like Core Scientific (CORZ) have already gone down this path, using AI revenue to stabilize cash flow. In fact, Core’s strategic shift helped it avoid bankruptcy and led to a $9 billion acquisition by CoreWeave (CRWV). HIVE, for its part, named Nvidia’s (NVDA) ultra-powerful H100 chips as a major driver of its AI ambitions. That’s a signal of serious intent.
Bitcoin’s Rally Fuels a Rising Tide
This momentum isn’t happening in a vacuum. Bitcoin’s climb back above $117,000 has reignited interest across the entire mining sector. Names like Marathon Digital (MARA), Riot (RIOT), and now HIVE are all riding the bullish movement.
Yes, HIVE stock is still down 18.4% year-to-date. But given the pace of its recovery, and the strength of its operational updates, that may not be true for much longer. With a surging hashrate, a sizable Bitcoin treasury, and AI expansion underway, HIVE is shaping up as one of the more dynamic comeback stories in the space.
Is HIVE a Good Stock to Buy Now?
Wall Street’s confidence in HIVE Digital is growing louder and clearer. According to the latest data from TipRanks, all six analysts covering the stock in the past three months have issued Buy ratings — zero Holds, zero Sells. That’s a clean sweep, driving home a message of strong bullish conviction and earning HIVE a “Strong Buy” consensus rating.
The average 12-month HIVE price target now sits at $7.08, implying a massive 204.52% upside from current levels around $2.33.
