HIVE Digital Technologies: Growth With Crypto Mining And AI

Summary HIVE has a dual-engine growth model with Bitcoin mining plus Tier-3 AI/HPC GPU cloud computing ￰0￱ company is also targeting faster time-to-cash through conversions rather than outright building new ￰1￱ total, they plan to scale up mining, targeting 25 EH/s by late November 2025 and 35 EH/s in ￰2￱ BUZZ HPC subsidiary will add 7.2 MW as a Tier-3 site, and Sweden upgrades nudge HIVE to approximately 6,000 NVIDIA GPUs by 2026. HIVE’s valuation also seems compelling, which is why I feel it’s fair to rate the stock a speculative “Buy” at these ￰3￱ Digital Technologies Ltd. ( HIVE ) is a crypto miner and a renewable-power infrastructure company for artificial intelligence and high-performance computing (AI/HPC).

In 2025, their company surpassed an operational mining speed of 22 EH/s using hydroelectricity from Paraguay’s Itaipú and other efficient sites in Canada and ￰4￱ is also converting its Swedish facilities from Tier-1 to Tier-3 to accelerate time-to-cash for AI applications. Also, HIVE is expanding its Toronto infrastructure, aiming to have 6,000 GPUs by 2026. And, as a whole, I consider HIVE a very compelling speculative “Buy” given its broader positioning in crypto mining and AI ￰5￱ Scaling AI Miner HIVE Digital Technologies Ltd. ((HIVE)) is an operator of “green” data centers for Bitcoin USD ( BTC-USD ) mining and HPC/AI GPU cloud ￰6￱ was founded back in 2017 and later rebranded from its previous name as Hive Blockchain Technologies in July 2023 when it expanded into AI/HPC.

HIVE is currently headquartered in San Antonio, Texas.) and 65 MW of ￰7￱ second site is in Lachute with an operational mining speed of 1.4 EH/s and 35 ￰8￱ for Sweden, HIVE has a mining site with an installed hash of 1.9 EH/s and 40 ￰9￱ its facilities in Paraguay are in the Yguazú , which recently reached 200 MW in capacity as of September ￰10￱ more importantly, this marked the completion of their Phase 2 ￰11￱ forward, HIVE’s Phase 3 will add another 100 MW to its capacity. Specifically, HIVE’s Paraguayan site in Valenzuela is planned for Q4 2025. Moreover, HIVE’s profitability should theoretically also scale alongside the price of Bitcoin ￰12￱ indeed, HIVE’s illustrative forecasts present $345 million in annual mining ￰13￱ that “mining margin” in this case is simply the revenue they generate by selling their mined Bitcoin minus electricity costs (excluding other direct costs like labor, for example).

In this particular scenario, HIVE assumes a hypothetical Bitcoin price of $125.0 thousand, which doesn’t seem that far off from the current price of approximately $114.5 thousand .) adds around $100.0 million in additional mining margin for HIVE. It’s also worth mentioning that this assumes a 25 EH/s capacity, and it’s tied to its electricity cost (roughly $0.05/kWh at the moment). Similarly, HIVE’s HPC/AI segment lists Tier 3 data centers repurposed for AI and GPU cloud ￰14￱ these installations are in Stockholm, Sweden , with a utilized power of 0.8 ￰15￱ Montreal and Toronto (Canada), it has another 1.4 MW and 5.5 MW, ￰16￱ given the high demand for AI compute, HIVE now plans to triple its AI infrastructure using NVIDIA GPUs to serve this surging ￰17￱ and AI Infrastructure Expansion More recently, on October 27, 2025, HIVE announced two major updates .

First, they achieved a new Bitcoin-mining milestone of 22 EH/s, which represents a 267% year-to-date growth for ￰18￱ increase was mainly attributed to HIVE’s Valenzuela facility in ￰19￱ alone added 100 MW via a hydro-powered campus that generates renewable energy from the Itaipú Dam, one of the largest hydroelectric plants in the world.).). Note that I exclude their Bitcoin holdings from this calculation because it seems more like working capital than “cash-like” given HIVE’s business.