Latest news with #HIVEDigitalTechnologies
Business Insider
a day ago
- Business
- Business Insider
Cantor Fitzgerald Keeps Their Buy Rating on HIVE Digital Technologies (HIVE)
In a report released today, Brett Knoblauch from Cantor Fitzgerald maintained a Buy rating on HIVE Digital Technologies (HIVE – Research Report), with a price target of $5.00. The company's shares closed today at $2.01. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Knoblauch is a 4-star analyst with an average return of 5.3% and a 47.46% success rate. Knoblauch covers the Technology sector, focusing on stocks such as Robinhood Markets, Bitdeer Technologies, and Strategy. Currently, the analyst consensus on HIVE Digital Technologies is a Strong Buy with an average price target of $7.38.
Yahoo
a day ago
- Business
- Yahoo
HIVE Digital Capacity Crosses 10 EH/s in May, Aims to More Than Double That by Year-End
Bitcoin miner HIVE Digital Technologies (HIVE) has surpassed 10 exahash per second (EH/s) in hashrate capacity, a 58% increase from April, driven by the launch of a 100-megawatt hydro-powered site in Paraguay. The company said in a press release on Friday that it's on track to reach 25 EH/s by the end of 2025. The firm mined 139 bitcoin in May, or an average rate of 4.5 BTC per day. Peak capacity hit 10.4 EH/s while average hashrate for the month stood at 8.5 EH/s. HIVE said its fleet efficiency remained steady at around 20 joules per terahash (J/TH), and its network share now exceeds 1% of global Bitcoin mining power. The new facility in Paraguay reflects a broader trend in the mining industry: the race to deploy next-generation ASIC miners rapidly and at scale in regions with abundant renewable power. Co-founder Frank Holmes emphasized the company's speed and flexibility, pointing to its Buzz HPC division, which supports AI cloud infrastructure alongside Bitcoin mining. CEO Aydin Kilic said the company's goal for the summer is 18 EH/s, and that fleet upgrades should allow for a daily BTC output of over 12 by the fourth quarter — potentially at a production cost below $50,000 per coin. HIVE operates facilities in Canada, Sweden and Paraguay, powered entirely by hydroelectricity. The company was the first publicly listed crypto miner on the TSX Venture Exchange in 2017. HIVE shares are higher by 13% in New York trade on Friday as the mining sector rallies alongside bitcoin's gain to above $105,000.
Yahoo
08-04-2025
- Business
- Yahoo
HIVE chairman Frank Holmes says U.S. bitcoin reserve could trigger ‘exponential' shift
Frank Holmes, Executive Chairman at HIVE, believes the U.S. could eventually adopt Bitcoin as part of its strategic reserves—but probably not this year. In a conversation with TheStreet Roundtable host David Gokhshtein, Holmes weighed in on growing speculation around Senator Cynthia Lummis' push for a strategic Bitcoin reserve, and whether the U.S. government might begin accumulating BTC soon. 'I don't know if it'll happen this year,' Holmes said, pointing to the bigger picture. 'I think the big part is the supply that the government owns won't be hitting the market.' Holmes noted that education plays a critical role in any major government shift. He pointed to former President Donald Trump as an example of evolving views within Washington. 'You got to remember, when President Trump's first run at being the president, he was anti-Bitcoin,' Holmes said. 'And I think his kids basically educated and informed him, along with the crypto ecosystem supporting this private property, digital asset.' Trump's apparent shift toward a more favorable view of Bitcoin has been seen across his 2024 and 2025 campaign rhetoric, where he positioned himself as more crypto-friendly than his Democratic counterparts. Holmes didn't offer a specific timeline for U.S. government action, but hinted that if and when it comes, it could trigger a powerful domino effect. 'It'll evolve, and when it happens, it will be one of those exponential moves,' he said. He added that other nations could act as a catalyst: 'We're going to get a few other countries that are going to say [they're] adopting Bitcoin like you have El Salvador, and when that happens, then we'll start getting more momentum.' HIVE Digital Technologies Ltd. is a Canadian company specializing in sustainable digital infrastructure, focusing on Bitcoin mining and high-performance computing (HPC) powered by green energy sources. HIVE Digital Technologies (NASDAQ:HIVE) mined 108 Bitcoin in March 2025, growing its total BTC holdings to 2,201 coins as of March 31 — worth roughly $180 million at Bitcoin's then-market price of $82,000. HIVE recently launched a major green-powered mining facility in Paraguay, part of its strategy to scale operations sustainably. The company maintained an average hashrate of 6.3 exahashes per second (EH/s) during March, with a fleet efficiency of 20.7 joules per terahash. HIVE also recorded a peak Bitcoin-only hashrate of 6.2 EH/s, with its total BTC-equivalent hashrate hitting 6.4 EH/s. HIVE's current output averages 3.5 BTC per day — or 17.6 BTC per exahash. Hashrate is the measure of a crypto mining machine's computational power. It tells you how many calculations per second the hardware can perform to solve the complex equations that validate blockchain transactions. A higher hashrate generally means more mining power and a greater likelihood of earning block rewards. For context, one exahash equals one quintillion hashes per second.
Associated Press
25-03-2025
- Business
- Associated Press
HIVE Digital Technologies Hopes To Quadruple Hashrate With Strategic Paraguay Deal, Receives Wall Street Endorsement
DETROIT, MICHIGAN - March 25, 2025 ( NEWMEDIAWIRE) - Since its launch in 2009, Bitcoin has sparked significant interest in blockchain technology and decentralized finance. At the same time, data center computing demand is surging. Companies poured hundreds of billions of dollars into data centers in 2024, and that pace is expected to accelerate in 2025. One company that operates at the intersection of both of these exciting technologies is HIVE Digital Technologies (NASDAQ: HIVE), a San Antonio, Texas-based data center leader. HIVE says it has gotten off to a running start in 2025 and has recently published its production update for February. A key highlight was the company's strong Bitcoin production, which aligns well with its bold expansion strategy, both internally and externally. Chief among these milestones was an update on HIVE's key acquisition of Bitfarms' hydro-powered Bitcoin mining assets in Paraguay, which the company hopes will set the stage for massive growth this year and beyond. HIVE's expansion drive coincides with increasing policy support for Bitcoin in the U.S., and HIVE's stock offers a way for interested investors to gain exposure to the Bitcoin mining sector. HIVE's Strategic Paraguay Deal In February alone, HIVE Digital Technologies reported that it mined nearly 90 Bitcoins, bolstering its portfolio to 2,620 BTC, which were valued at $220 million at last check, with BTC price being off its peak. The company has grown its Bitcoin holdings by nearly 25% year-over-year but also divested a portion of its holdings to support its strategic growth. HIVE directed the proceeds toward several acquisitions of hydro-powered Bitcoin mining assets in Paraguay, where it has set its sights on transformative future growth. HIVE has acquired a total of 300 MW of Bitcoin mining capacity in Paraguay, including 200 MW from Bitfarms, which is all expected to be operational in 2025, according to the company. 'In February, our executive team conducted a site visit to Bitfarms' Yguazú facility, gaining firsthand insights into its ongoing construction. We were extremely pleased with the progress we witnessed there and are excited to finalize the strategic acquisition of Bitfarms' 200 MW Yguazú site in Q1 2025,' said Luke Rossy, COO of HIVE. HIVE's investments in Paraguay have been game-changers, with the company marking 2025 as a transformative year for its growth. The strategic acquisitions in Paraguay are expected to quadruple its hashrate, a key measure of computational power that drives blockchain equation-solving and Bitcoin creation. When it comes to Bitcoin mining, efficiency is extremely important, as it determines outcomes like profits and the sustainability of the operation. According to HIVE Digital Technologies president and CEO Aydin Kilic, the company's '300 MW expansion in Paraguay to 4x our hashrate from 6 EH/s to 25 EH/s by September 2025 remains on track.' To support its growth plans, the company has also been expanding its internal team. HIVE Digital Technologies has appointed seasoned digital infrastructure executive Craig Tavares as President and Chief Operating Officer of its BUZZ HPC business segment, where it continues to drive innovation in high-performance computing and GPU cloud services. Tavares is tasked with growing the company's revenue to the $100 million threshold. HIVE Digital Technologies Stock 'Intriguing,' Says RosenBlatt Given the accelerated pace at which growth is unfolding at HIVE Digital Technologies, some members of the analyst community have been increasingly recognizing the stock's potential. Most recently, analyst firm Rosenblatt has jumped on the HIVE bandwagon, initiating coverage of the stock with a 'buy' rating and a $6 price target. Rosenblatt analysts find HIVE Digital Technologies' stock 'intriguing,' saying it's poised to 'enter an unprecedented growth phase' amid its ambitious goal to quadruple its hashrate, driven by its trio of newly-announced hydro-powered data centers. HIVE was an early mover in the Bitcoin mining space, a position that may provide a significant edge over competitors. The company highlights its proven ability to navigate shifting cryptocurrency market cycles, showcasing the financial discipline essential for success in this volatile sector. With Bitcoin mining expansion a key focus for 2025, driven primarily by strategic acquisitions in Paraguay, HIVE believes it is poised for remarkable growth, with its potential reaching new heights. HIVE Digital Technologies is extending an invitation to investors to attend a celebratory investor dinner in mid-April marking the company's U.S. headquarters' relocation to San Antonio, Texas – which it sees as the Bitcoin capital. Not only will shareholders be able to enjoy local cuisine and cocktails but they will be given the opportunity to connect with HIVE Co-Founder and Executive Chairman Frank Holmes. Investors can learn more about the company here.
Yahoo
21-02-2025
- Science
- Yahoo
Study uncovers major problem with bitcoin: 'Could slow down the actual goal'
Researchers have discovered that using bitcoin mining as a way to accelerate the move to green energy sources may not be as effective as its advocates claim. Scientists at Witten/Herdecke University looked at how bitcoin and cryptocurrency are impacting the transition to green and renewable energy sources, according to a media release. What they found was that while cryptocurrency may help expedite the transition to renewable energy in the short term, it could hinder the transition over the long term and cause considerable environmental damage and pollution along the way. According to the study, proponents of bitcoin mining claim that shunting surplus renewable energy that the grid doesn't need into the process of harvesting cryptocurrency will help accelerate the implementation of renewable energy by adding a higher profit margin for power companies, incentivizing them to add more green energy to their portfolios. However, the study suggests that while the focus on renewable energy could reduce planet-warming gas pollution, it creates other major problems that won't help address environmental concerns. The cheaper energy could lead to an increase in people mining crypto, which would create more electronic waste. On top of that, being able to shunt excess energy off into cryptomining could disincentivize companies from investing in long-term clean-energy solutions, like storage technologies, grid improvements, and better infrastructure, while also not providing enough incentive to have those companies move away from dirty forms of energy on top of the renewable ones. "In the long term, Bitcoin mining could slow down the actual goal of the energy transition — the switch to renewable energies," says Maximilian Gill, one of the researchers on the project. The cryptocurrency industry is currently in a boom, but scientists have continued to express serious concerns about its impact. The process of mining bitcoin and other digital currencies is incredibly energy-intensive, sucking up significant chunks of power. In Iran, illicit crypto mining has been linked to blackouts in Tehran, the nation's capital. And in the European nation of Georgia, officials have asked residents to cease crypto operations because of the massive strain it puts on the grid. These operations frequently rely on dirty energy sources and take resources away from citizens who need the power. Do you think we use too much plastic in America? Definitely Only some people Not really I'm not sure Click your choice to see results and speak your mind. Cryptocurrency miners like HIVE Digital Technologies have been pushing to include more renewable energy in their operations, and countries like El Salvador have built entire green industries around their crypto efforts. However, as this study shows, there's still plenty more to be done here to make sure bitcoin mining is done in a way that does not bring with it too many environmental downsides and risks. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
