HIVE Digital stock soars on BTC mining, revenue milestones
The blockchain and AI infrastructure company has doubled its Bitcoin hashrate and boosted its annual revenue run rate to $250 million.
Shares of blockchain and AI infrastructure provider HIVE Digital Technologies (HIVE) rose on Friday, boosted by Bitcoin’s record rally and a series of operational milestones in its mining business.
HIVE jumped nearly 6.5% to $2.47 per share, lifting its market capitalization to about $530 million. The stock has climbed more than 21% over the past month, in line with a broader rebound among Bitcoin (BTC) mining stocks.
The latest rally was fueled by news that Hive Digital surpassed 12 exahashes per second (EH/s) of Bitcoin mining hashrate, doubling its output since the start of the year. The company is currently generating over $250 million in annualized revenue and expects to reach $400 million once it scales up to 18 EH/s.