HIVE Digital Technologies (NASDAQ: HIVE), a leader in blockchain and AI infrastructure, saw its stock climb nearly 6.5% on Friday, closing at $2.47 per share. This recent rally pushed the company’s market capitalization to approximately $530 million. Over the past month alone, HIVE stock has jumped more than 21%, signaling renewed investor confidence and reflecting a broader rebound in Bitcoin mining stocks.
Bitcoin Hashrate Surges to 12 EH/s, Driving Growth
A major factor behind the stock’s upward momentum is HIVE’s significant increase in Bitcoin mining capacity. The company recently surpassed 12 exahashes per second (EH/s), effectively doubling its hashrate since the start of the year. This milestone has translated into strong revenue gains, with HIVE now generating over $250 million annually.
Looking ahead, HIVE plans to scale operations to 18 EH/s, which could push its yearly revenue to around $400 million. CEO Aydin Kilic stated that the company is currently mining over 6 BTC per day with an impressive 55% operating margin—a strong figure in a sector facing mounting economic pressures.
AI and HPC Diversification Boosts Long-Term Outlook
While Bitcoin miners continue to grapple with reduced block rewards and rising energy costs, HIVE has found a smart way to adapt. The company is repurposing its fleet of GPUs—originally used for Ethereum mining—for AI and high-performance computing (HPC) workloads. This strategic pivot into the artificial intelligence space is already generating significant new revenue streams and helping the company stay resilient amid the ongoing changes in the crypto landscape.
As more mining firms look to diversify beyond traditional crypto operations, HIVE’s early move into AI infrastructure gives it a competitive edge. The dual focus on blockchain and AI positions HIVE as one of the more innovative players in the sector.
With strong financial performance, growing hashrate, and successful AI integration, HIVE Digital Technologies is shaping up to be a standout in both the crypto and AI infrastructure markets.
