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HIVE Digital Technologies Ltd. (HIVE) Delivers Record Digital Currency Mining Revenue
HIVE Digital Technologies Ltd. (NASDAQ:HIVE) is one of the top cryptocurrency stocks to consider for long-term investment. On November 18, H.C. Wainwright raised its price target on Hive Digital Technologies (NASDAQ:HIVE) to $10 from $8, maintaining a Buy rating after the company’s AI Cloud expansion and a strong Q2 FY2026 beat.
A day earlier on November 17, HIVE Digital Technologies Ltd delivered record revenue in its digital currency mining and BUZZ HPC segments for its second quarter of fiscal 2025. Revenue in the quarter was up 285% year over year to $87.3 million. The increase was driven by a 101.2% increase in digital currency mining revenue, reflecting an 86.2% quarter-over-quarter increase in average hashrate. During the quarter, the company mined 717 Bitcoin, representing a 76.6% sequential increase in production. Nevertheless, the company ultimately reported a GAAP net loss of $15.8 million, primarily due to the accelerated two-year depreciation of ASICs.
Hive Digital’s high-performance computing division, Buzz, generated a record revenue of $5.2 million, representing a 175% increase. The increase came as the company completed a 300 MW addition of new capacity in Paraguay. It exited the quarter with a 540 MW hydro power data center footprint, securing a path of 400 MW in Paraguay. Amid the increase, the company expects $140 million in annualized HPC revenue by the end of the fourth quarter next year.
HIVE Digital Technologies Ltd. (NASDAQ:HIVE) is a company focused on green Bitcoin mining and high-performance computing (HPC) and AI cloud services. It operates data centers powered by clean energy sources to mine Bitcoin and provides GPU-based cloud services for AI and other high-performance computing tasks. HIVE also holds a significant portion of the Bitcoin it mines as a long-term asset.
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This article has been published in insidermonkey.com via Yahoo News.
HIVE Digital Technologies Ltd. (HIVE) Delivers Record Digital Currency Mining Revenue
HIVE Digital Technologies Ltd. (NASDAQ:HIVE) is one of the top cryptocurrency stocks to consider for long-term investment. On November 18, H.C. Wainwright raised its price target on Hive Digital Technologies (NASDAQ:HIVE) to $10 from $8, maintaining a Buy rating after the company’s AI Cloud...
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