Hive Digital Technologies Chairman Frank Holmes joined Steve Darling from Proactive to discuss the company’s recent positive developments, including an increase in price target from Stifel analysts from $6.50 to $9 and reiterated ‘Speculative Buy’ rating. This comes after several significant updates from HIVE, such as the purchase of new generation ASIC and GPU hardware, the acquisition of a 6 MW data center in Sweden, and the completion of a C$28.75 million financing.
Holmes expressed his thoughts on the move, emphasizing that the recent developments, including the acquisition of new machines, have positioned the company on a strong trajectory. He highlighted HIVE’s management’s focus on upgrading its mining fleet to about 5.6 EH/s with a 25 J/TH efficiency profile and expanding its high-performance computing (HPC) business to a target run rate of about $30 million by the second quarter of 2024 based on full utilization.
Overall, Holmes sees these developments as significant milestones for HIVE Digital Technologies, indicating its potential for growth and success in the cryptocurrency mining industry.
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