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Coin Telegraph

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Image Credit: Coin Telegraph

HIVE Digital stock soars on BTC mining, revenue milestones

  • HIVE Digital Technologies stock surged on Friday due to Bitcoin's rally and operational milestones in its mining business.
  • The company exceeded 12 exahashes per second of Bitcoin mining hashrate and expects to generate $400 million in annualized revenue at 18 EH/s.
  • CEO Aydin Kilic mentioned that HIVE is currently mining over 6 BTC per day with a 55% operating margin.
  • The Bitcoin mining industry faces challenges post-halving, leading some to diversify into AI and HPC, with HIVE Digital also benefiting from this strategy by repurposing GPUs for AI workloads.

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