Hive Digital Technologies Eyes 90% Upsurge with AI Pivot

Hive Digital Technologies has caught the attention of Jones Trading analyst Kevin Dede, who initiated coverage on the company with a buy rating and a price target of $6.00.

This represents roughly a 90% upside from Hive's current stock price of $3.16, which is already up 74% over the past six months.

The San Antonio-based company, founded in 2017 as the first publicly-traded cryptocurrency mining firm, has shifted its focus towards AI and high-performance computing.

Hive Digital's GTA gigafactory initiative is advancing rapidly, with Jones Trading describing its $6 price target as highly conservative.