Chardan Initiates Coverage of HIVE Digital with Buy Rating and $7.50 Price Target

HIVE Digital Technologies Ltd has seen its stock price surge by 13.01% as analysts become increasingly bullish on the company's expanding digital infrastructure operations.

Chardan initiated coverage of HIVE with a Buy rating and a $7.50 price target, citing upside from both bitcoin mining scale and AI-focused GPU cloud expansion.

The analyst's view is that HIVE's existing data centers, power contracts, and cooling capacity form the backbone for GPU-driven AI workloads, positioning the company to serve large, potentially sticky government and institutional contracts in the Canadian sovereign AI market.