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Investing.com - Rosenblatt has reiterated its Buy rating and $10.00 price target on Hive Digital Technologies (NASDAQ:HIVE) following the company’s fiscal second-quarter 2026 results. This target aligns with the bullish analyst consensus, as InvestingPro data shows HIVE’s analyst targets range from $7.50 to $11.00, with a strong buy consensus recommendation.
The research firm described HIVE’s quarterly performance as "impressive" and views it as confirmation that management’s aggressive growth strategy is yielding positive results. The company has achieved 57.09% revenue growth over the last twelve months, with a healthy 37% gross profit margin.
Rosenblatt noted that HIVE has fully powered up its acquired Bitfarms sites in Paraguay with next-generation ASICs, enabling the company to scale rapidly while boosting gross margins "at just the right time."
The firm has raised its estimates for HIVE based on the company’s performance and increased visibility on its growth plans for its AI cloud business.
Rosenblatt maintained its $10 price target, which is based on 12 times its fiscal year 2027 adjusted EBITDA estimate, and suggested the recent market pullback offers "an attractive entry point" for the stock.
In other recent news, HIVE Digital Technologies Ltd. reported significant developments across its operations. The company announced it has surpassed 22 exahash per second (EH/s) in global Bitcoin-mining capacity, marking a 267% growth year-to-date. This milestone was achieved through the successful expansion of its hydro-powered facility in Paraguay, which now produces 9.5 Bitcoin per day. Additionally, HIVE Digital has acquired a 7.2 megawatt data center in Toronto, which will be upgraded to support high-performance computing and artificial intelligence workloads. The company also reported a 22% increase in monthly Bitcoin production for August 2025, mining 247 BTC compared to 203 BTC in July, with an average daily production of 8 BTC. HIVE’s efficiency was recorded at 18.5 joules per terahash, producing 15.2 BTC per EH/s. Furthermore, the completion of Phase 2 of the Yguazú facility ahead of schedule allowed HIVE to exceed 18 EH/s of Bitcoin mining capacity. These recent developments highlight HIVE Digital’s ongoing expansion and operational efficiency in the cryptocurrency mining sector.
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