HIVE Digital Technologies Soars on Chardan's Bullish Bitcoin and AI Call

HIVE Digital Technologies Ltd has seen its stock price rise by 3.7% amid growing bullish sentiment surrounding crypto-related tech growth.

Chardan, a financial services company, recently initiated coverage of HIVE Digital with a Buy rating and a $7.50 price target, citing the company's large-scale bitcoin mining capabilities and rapid expansion into AI-focused GPU cloud and colocation services.

The analyst mean for HIVE is currently at $7.06, making Chardan's $7.50 target slightly above the current consensus, which reinforces a broader Buy stance on the stock.

HIVE has been known as a crypto miner, but its recent expansion into AI infrastructure is seen as a key growth driver, particularly in the Canadian sovereign AI market.