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HIVE Digital Technologies ( (TSE:HIVE) ) has provided an update.
HIVE Digital Technologies has surpassed 8.3 EH/s in Bitcoin mining hashrate, driven by its new hydro-powered facility in Paraguay, and is on track to reach 11.5 EH/s by June 2025. The company plans to expand to 25 EH/s by the end of 2025, leveraging its Bitcoin treasury to fund ASIC orders without significant cash outlay, aiming to enhance operational efficiency and reduce production costs.
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 focused 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.
Average Trading Volume: 862,617
Technical Sentiment Signal: Sell
Current Market Cap: C$434.8M
For an in-depth examination of HIVE stock, go to TipRanks’ Stock Analysis page.