HIVE Digital (HIVE) Pushes Expansion Plans as Analysts Lower Price Targets

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) is among the best NASDAQ penny stocks to buy according to analysts. On February 23, Cantor Fitzgerald cut its price target for HIVE Digital Technologies Ltd. (NASDAQ:HIVE) from $7.50 to $5.00 but kept an Overweight rating.

The firm said Bitcoin mining is making less money now and expects lower Bitcoin prices. Hive reported strong growth, with quarterly revenue of $93.1 million, up 219% from last year. It mined 885 Bitcoin in the quarter and increased its mining power to 25 exahashes per second. Even so, the company is still not profitable and posted a loss over the past year. Hive plans to grow its mining power to 35 exahashes per second by the end of 2026 and is also expanding into AI and high-performance computing, aiming to reach $225 million in annual AI revenue by 2027.

Earlier, on February 18, Rosenblatt lowered its price target on Hive from $6.50 to $4.50 but kept a Buy rating. The firm said Hive’s expansion in Paraguay has improved its mining costs, helping it handle lower Bitcoin prices. With Bitcoin trading below $70,000, Rosenblatt noted that Hive Digital’s lower hash costs and larger scale should help it weather the tougher market while keeping flexibility to grow its high‑performance computing business.

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) builds and operates green‑energy data centers in Bermuda and Paraguay. The company mines and sells digital currencies, offers performance computing hosting, and provides blockchain infrastructure solutions by supplying computational power to distributed networks.

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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