Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
HIVE Digital Technologies ( (TSE:HIVE) ) has issued an update.
HIVE Digital Technologies has achieved a significant milestone by reaching 23 Exahash per second in Bitcoin-mining capacity, marking a 283% growth year-to-date. The company has also acquired 32.5 acres of land in Grand Falls, New Brunswick, to develop Tier III+ HPC data centers, positioning itself as a key player in the AI super cycle. This expansion leverages HIVE’s renewable energy resources and aims to support over 30,000 GPUs, enhancing its capacity to meet the growing demand for AI-driven computing power. The strategic move is expected to bolster HIVE’s position in the AI industrial revolution, offering scalable and green-powered compute solutions.
The most recent analyst rating on (TSE:HIVE) stock is a Hold 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.
The overall score is driven by positive technical momentum, despite financial performance challenges and poor valuation metrics. The stock’s upward trend is a significant strength, but profitability and cash flow issues remain key risks.
To see Spark’s full report on TSE:HIVE stock, click here.
More about HIVE Digital Technologies
HIVE Digital Technologies Ltd. is a global leader in sustainable digital infrastructure, focusing on Bitcoin mining and high-performance computing (HPC) data centers. The company is known for repurposing stranded and surplus renewable energy to support its operations, with a market focus on AI and HPC data centers in Canada and Sweden.
YTD Price Performance: 64.79%
Average Trading Volume: 2,756,910
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$1.69B
For detailed information about HIVE stock, go to TipRanks’ Stock Analysis page.