B. Riley analyst Nick Giles lowered the firm’s price target on Hive Digital (HIVE) to $7 from $8 and keeps a Buy rating on the shares. Hive Digital posted stronger-than-expected Q3 EBITDA, helped by lower power costs, while making significant progress in BTC mining capacity, AI cloud build-out, and colocation readiness, the analyst tells investors in a research note. With meaningful annual recurring revenue potential by 2027 and HPC assets trading at a steep discount to peers, the setup looks compelling, supported by upcoming catalysts such as GPU deployment and colocation developments, the firm says.
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