HIVE Digital Technologies Ltd. (NASDAQ:HIVE) stock rose Friday after the company signed customer agreements totaling approximately $30 million in contract value for its AI cloud strategy.
This news comes as HIVE continues to expand its operations, leveraging its established infrastructure to tap into the growing demand for high-performance computing.
HIVE Signs Deals Worth $30M
The new contracts underpin the initial phase of BUZZ’s AI-optimized GPU deployment at its Canada West location in Manitoba, with compute capacity expected to come online during the quarter ending March 31, 2026.
Management anticipates this initial phase will generate around $15 million in annual recurring revenue once fully operational, reflecting strong contracted demand for BUZZ’s AI cloud platform.
In addition, the company aims to scale its GPU cloud business throughout 2026, with expectations for total annualized revenue from its HPC segment to grow from approximately $20 million currently to roughly $35 million. This expansion is supported by partnerships with Dell and Bell Canada, enhancing HIVE’s infrastructure and connectivity capabilities.
The broader market experienced declines on the previous trading day, with the Dow Jones falling 0.35% and the S&P 500 down 0.28%. HIVE’s rise comes despite this downward trend, suggesting the stock’s movement may be driven more by company-specific factors than by broader market sentiment.
Technical Analysis
HIVE is currently trading 20% below its 20-day simple moving average (SMA) and 42.4% below its 100-day SMA, indicating a bearish trend in the short- to medium-term. Over the past 12 months, shares have decreased by 25.17%, and they are positioned closer to their 52-week lows than highs, suggesting ongoing challenges for the stock.
The RSI is at 33.88, which is considered neutral territory, while the MACD is below its signal line, indicating bearish pressure on the stock. The combination of neutral RSI and bearish MACD suggests mixed momentum, reflecting uncertainty in the stock’s performance.
- Key Resistance: $2.50
- Key Support: $1.50
The company’s recent expansion into AI cloud services positions it well to capitalize on the growing demand for high-performance computing solutions. This strategic move is expected to enhance HIVE’s market presence and revenue potential by capitalizing on the growing demand for AI capabilities globally.
Earnings & Analyst Outlook
The countdown is on: HIVE Digital Technologies Ltd. Common Shares is set to report earnings on February 17, 2026.
- EPS Estimate: Loss of 7 cents (Down from 1 cent YoY)
- Revenue Estimate: $97.73 million (Up from $29.23 million YoY)
- Valuation: P/E of 9.3x (Indicates value opportunity)
Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $7.30. Recent analyst moves include:
- Keefe, Bruyette & Woods: Downgraded to Market Perform (Lowers Target to $3.50) (Jan. 27)
- B. Riley Securities: Buy (Lowers Target to $7.00) (Nov. 21, 2025)
- Canaccord Genuity: Buy (Maintains Target to $10.00) (Nov. 21, 2025)
Valuation Insight: While the stock trades at a value P/E multiple, the strong consensus and rising estimates suggest analysts view the growth prospects as justification for the 235% upside to analyst targets.
HIVE Price Action: HIVE Digital Technologies shares were up 1.87% at $2.18 during premarket trading on Friday, according to Benzinga Pro data.
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