B. Riley lowered the firm’s price target on Hive Digital (HIVE) to $5 from $6 and keeps a Buy rating on the shares. Hive Digital reported Q3 adjusted EBITDA of $33.4M, ahead of estimates, while AI Cloud revenue of $4.9M missed forecasts due to on-demand GPU utilization volatility, the analyst tells investors in a research note. BTC mining continues to fund HPC/AI expansion, and Hive is converting its New Brunswick data center into a 50MW Tier 3 HPC facility, the firm says.
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