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HIVE Digital Technologies Chairman Discusses Recent Price Target Increase [Video]

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Small Business Funding

HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE) 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 …

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