HIVE Digital Achieves 10 EH/s Mining Breakthrough, Races Toward 25 EH/s Goal
HIVE Digital Technologies Ltd. (NASDAQ:HIVE) surpassed 10 Exahash per second (EH/s) in Bitcoin mining capacity, as reported on May 28. This milestone exceeds the company's previous 9.5 EH/s record announced just seven days ago. The company now produces over 5 Bitcoin daily and maintains above 1% of the global Bitcoin network hashrate.
A team of technicians working on a server of bitcoin mining equipment in a data center.
The accelerated expansion centers on HIVE's Paraguay operations, where the company deployed new mining equipment at its 100 MW hydro-powered Yguazú facility. The mining fleet operates at 20 Joules per Terahash efficiency.
HIVE Digital Technologies Ltd. targets 11.5 EH/s by June 2025 as part of its first expansion phase. A second 100 MW facility in Yguazú will launch by summer 2025, targeting 18 EH/s capacity. The company plans to complete a third 100 MW campus in Valenzuela, Paraguay, which is key to achieving its 25 EH/s goal by Q4 2025. It assured investors that this expansion is fully funded, eliminating dilution concerns typically associated with rapid scaling.
At the same time, Buzz HPC, a HIVE (NASDAQ:HIVE) subsidiary, achieved an important milestone. The entity reached $20 million in annualized run-rate revenue from its GPU cloud business. The division operates over 5,000 GPUs for AI workloads, providing strategic diversification beyond Bitcoin mining operations.
HIVE Digital Technologies Ltd is a technology company that specializes in Bitcoin mining and high-performance computing (HPC). It builds and operates data centers in Canada, Sweden, and Paraguay. HIVE uses NVIDIA GPUs to support AI and HPC markets.
While we acknowledge the potential of HIVE Digital Technologies Ltd (NASDAQ:HIVE) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than HIVE and that has 100x upside potential, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
30 minutes ago
- Yahoo
UnitedHealth Group (UNH) Rises Yet Lags Behind Market: Some Facts Worth Knowing
The most recent trading session ended with UnitedHealth Group (UNH) standing at $298.17, reflecting a +0.02% shift from the previouse trading day's closing. The stock lagged the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.28%, and the tech-heavy Nasdaq gained 0.39%. Coming into today, shares of the largest U.S. health insurer had lost 27.55% in the past month. In that same time, the Medical sector lost 3.41%, while the S&P 500 gained 6.69%. The investment community will be paying close attention to the earnings performance of UnitedHealth Group in its upcoming release. On that day, UnitedHealth Group is projected to report earnings of $5.47 per share, which would represent a year-over-year decline of 19.56%. Simultaneously, our latest consensus estimate expects the revenue to be $112.14 billion, showing a 13.44% escalation compared to the year-ago quarter. Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $23.38 per share and revenue of $451.8 billion, indicating changes of -15.47% and +12.87%, respectively, compared to the previous year. It is also important to note the recent changes to analyst estimates for UnitedHealth Group. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability. Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system. The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 13.7% lower. Right now, UnitedHealth Group possesses a Zacks Rank of #5 (Strong Sell). In terms of valuation, UnitedHealth Group is presently being traded at a Forward P/E ratio of 12.75. This signifies no noticeable deviation in comparison to the average Forward P/E of 12.75 for its industry. Also, we should mention that UNH has a PEG ratio of 1.17. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Medical - HMOs was holding an average PEG ratio of 0.97 at yesterday's closing price. The Medical - HMOs industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 89, which puts it in the top 37% of all 250+ industries. The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Keep in mind to rely on to watch all these stock-impacting metrics, and more, in the succeeding trading sessions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report UnitedHealth Group Incorporated (UNH) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30 minutes ago
- Yahoo
Mizuho Increases Block's (XYZ) Price Target, Keeps Outperform Rating
On Tuesday, May 27, Mizuho Securities increased the price target for Block, Inc. (NYSE:XYZ), previously known as Square, to $71 from $68 and kept an 'Outperform' rating. Mizuho made this decision after an analysis that shows a link between Bitcoin's price and user engagement on Block's (NYSE:XYZ) Cash App. People using the Cash App paying for goods and services, highlighting the impact the of the company's payment tools. The analysis showed that the recent surge in the price of Bitcoin has led to an increase in weekly active users of Cash App. The firm noticed that in late April and early May, there was a notable uptick in activity. Previously, in February and March, user growth was slower. These findings are in agreement with statements from Block, Inc.'s (NYSE:XYZ) management, which highlighted a rebound in Cash App usage in April. If Bitcoin can continue climbing, Cash App could experience increased user engagement in the coming months. Block, Inc. (NYSE:XYZ) is an American financial technology company that offers a wide range of products and services to consumers and merchants. While we acknowledge the potential of XYZ as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than XYZ and that has a 100x upside potential, check out our report about the cheapest AI stock. READ NEXT: 11 Stocks That Will Bounce Back According To Analysts and 11 Best Stocks Under $15 to Buy According to Hedge Funds. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30 minutes ago
- Yahoo
IBM (IBM) Stock Falls Amid Market Uptick: What Investors Need to Know
IBM (IBM) closed at $258.69 in the latest trading session, marking a -0.6% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.4%. Elsewhere, the Dow saw an upswing of 0.28%, while the tech-heavy Nasdaq appreciated by 0.39%. Prior to today's trading, shares of the technology and consulting company had gained 7.62% over the past month. This has lagged the Computer and Technology sector's gain of 11.04% and outpaced the S&P 500's gain of 6.69% in that time. The investment community will be closely monitoring the performance of IBM in its forthcoming earnings report. In that report, analysts expect IBM to post earnings of $2.64 per share. This would mark year-over-year growth of 8.64%. Simultaneously, our latest consensus estimate expects the revenue to be $16.59 billion, showing a 5.2% escalation compared to the year-ago quarter. For the full year, the Zacks Consensus Estimates project earnings of $10.95 per share and a revenue of $66.21 billion, demonstrating changes of +6% and +5.5%, respectively, from the preceding year. It's also important for investors to be aware of any recent modifications to analyst estimates for IBM. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability. Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model. The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.32% upward. IBM currently has a Zacks Rank of #3 (Hold). Looking at valuation, IBM is presently trading at a Forward P/E ratio of 23.77. This signifies a premium in comparison to the average Forward P/E of 17.06 for its industry. We can also see that IBM currently has a PEG ratio of 5.46. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Computer - Integrated Systems industry held an average PEG ratio of 1.86. The Computer - Integrated Systems industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 30, this industry ranks in the top 13% of all industries, numbering over 250. The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Remember to apply to follow these and more stock-moving metrics during the upcoming trading sessions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report International Business Machines Corporation (IBM) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
