According to Odaily, brokerage firm Cantor has released a research report predicting that the hash rate of Bitcoin mining company HIVE Digital will double by next year. The company's current hash rate of 5.5 EH/s is expected to increase to 13 EH/s. Cantor has initiated coverage of HIVE's stock with an 'overweight' rating and set a target price of $9, compared to the current price of approximately $4.26. The market has yet to fully reflect HIVE's potential.
In addition to its Bitcoin mining operations, HIVE is expanding into the artificial intelligence (AI) and high-performance computing (HPC) sectors. The company aims to achieve annual revenue of $100 million through its GPU cloud platform, HIVE Cloud. Analysts highlight that the anticipated growth in hash rate and the promising outlook for the GPU business could attract more investor attention.
