Well, well, well! It seems that HIVE Digital has decided to throw a little party in the crypto world, and guess what? The guest of honor is none other than Bitcoin! 🎉 Shares of HIVE Digital have taken a delightful leap following the company’s announcement of a 23% year-over-year rise in Bitcoin reserves. Who knew that digital coins could be so popular?
In a stunning revelation that could make even the most stoic accountant crack a smile, the Canadian crypto mining company has released its February production results. They’ve mined a whopping 89 BTC, which has boosted their HODL portfolio to a staggering 2,620 BTC, valued at around $220 million. That’s a lot of virtual treasure! 💰
Now, while the company’s Bitcoin holdings have increased by 23% YoY, it seems they’ve had a bit of a hiccup month-over-month. They didn’t disclose how much Bitcoin they sold, but let’s just say it’s probably enough to buy a small island or at least a very fancy yacht. 🛥️
“[…] on a month-over-month basis, BTC holdings saw a decline as HIVE strategically sold a portion of its BTC to invest in capital assets, including Bitfarms’ 200 megawatt hydro-powered Bitcoin mining assets in Paraguay.”
— HIVE Digital
After this news broke, HIVE Digital shares jumped 4.76% to $2 after hours, according to Nasdaq. It’s like watching a toddler on a sugar high! And just to add some extra spice, Rosenblatt has adjusted its outlook for HIVE Digital, forecasting a range from a low of $4.80 to a high of $7.13. That’s nearly a 200% increase! Talk about a rollercoaster ride! 🎢
HIVE Digital’s chief executive, Aydin Kilic, is clearly aiming for the stars, stating that the company is focused on executing a “transformative year.” He’s got big dreams of positioning HIVE as “one of the largest and most efficient Bitcoin miners in the world.” And if that’s not ambitious enough, they’re planning to expand their operations in Paraguay to quadruple their hashrate from 6 EH/s to 25 EH/s by September 2025. That’s a lot of numbers that sound impressive! 📈
HIVE also expects to finalize the strategic acquisition of Bitfarms’ 200 MW Yguazú site in Q1 2025. So, buckle up, folks! The crypto ride is just getting started!
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2025-03-10 12:18