HIVE Digital Stock Soars on Bitcoin Surge and AI Pivot

Shares of HIVE Digital Technologies rose 6.5% to $2.47 per share, with a market cap of $530 million, boosted by Bitcoin’s rally and operational milestones in mining. HIVE reached 12 EH/s in mining hashrate, generating $250 million in revenue, aiming for $400 million at 18 EH/s, mining 6 BTC per day with a 55% margin.

The Bitcoin mining industry faces challenges post-halving, impacting profitability. Miners diversify into AI and HPC workloads for sustainability. Core Scientific’s pivot to AI saved it from collapse, leading to acquisition by CoreWeave in a $9 billion deal. HIVE Digital saw revenue growth from repurposing GPUs for AI, leveraging Nvidia’s H100 chips.

Read more at Cointelegraph: HIVE Digital Stock Rises on Bitcoin Surge, AI Pivot and Mining Milestones