HIVE Digital (HIVE) Reports Strong Mining Growth and Expands Into AI Cloud

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) is one of the best AI penny stocks to buy right now. On February 5, HIVE Digital Technologies Ltd. (NASDAQ:HIVE) released operational results for January 2026 in which it reported a 290% year over year increase in hashrate. The hashrate averaged 22.2 exahash per second (EH/s) and peaked at 23.7 EH/s, up from 5.7 EH/s a year earlier.

During the same period, HIVE produced 297 Bitcoin, a 191% increase compared to January 2025. This happened even as global Bitcoin mining difficulty rose about 30% year over year, noted management. Management added that the company’s average daily Bitcoin production this January was 9.6 BTC per day, and its fleet maintained more than 2% of the global Bitcoin network hashrate throughout the month.

HIVE reported that its fleet efficiency averaged 17.5 joules per terahash (J/TH) and that its rigs produced approximately 13.4 BTC per EH/s of hashrate. Management attributed this robust operational performance to the company’s geographically diversified mining infrastructure. The infrastructure spans multiple continents and time zones, which helps maintain uptime and production consistency.

On January 26, Keefe Bruyette downgraded Hive Digital to Market Perform from Outperform and cut its price target to $3.50 from $11.

In a different update, on January 13, HIVE expanded into Paraguay. The company executed the expansion through a strategic joint venture with Paraguay’s leading telecommunications operator to launch a new AI cloud platform.

As part of the expansion, said HIVE, the partnership will launch a purpose-built artificial intelligence “BUZZ Cloud” platform in Asunción, Paraguay’s capital. This will provide high-performance computing and AI infrastructure to support AI training, inference, and data-intensive workloads.

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) is a blockchain and digital infrastructure company that integrates artificial intelligence into its GPU-based computing operations. The firm builds and operates next-generation data centers powered by clean energy across Canada, Sweden, and Paraguay. These support both AI workloads and Bitcoin mining.

While we acknowledge the potential of HIVE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.