HIVE Digital: Roth Capital Reiterates Buy, Raises PT to $7.5 from $6.

HIVE Digital: Roth Capital Reiterates Buy, Raises PT to $7.5 from $6.

Roth Capital reiterated its "Buy" rating on HIVE Digital Technologies Ltd. (NASDAQ: HIVE) and raised its price target to $7.5 from $6, according to a recent report. The upgrade comes as the company continues to make significant strides in its Bitcoin mining operations, with recent announcements indicating a robust expansion in Paraguay [1].

HIVE Digital Technologies has been steadily increasing its global Bitcoin mining hashrate, recently surpassing 16 Exahash per second (EH/s), a significant milestone on its journey towards 25 EH/s by U.S. Thanksgiving [1]. This expansion has led to a doubling of the company's daily Bitcoin output, which is now above 8 BTC. The company is set to deploy additional capacity at the Phase 3 Valenzuela site in September, which is projected to further increase daily Bitcoin production to 12 BTC per day [1].

Roth Capital's bullish outlook on HIVE Digital is based on the company's ability to generate more hashrate per joule of energy consumed, demonstrating strong unit economics and energy efficiency. The analyst firm also highlights the transparency of Bitcoin mining economics, where each exahash's contribution to daily Bitcoin production and revenue can be mathematically determined [1].

The company's recent earnings have shown positive results, with HIVE Digital Technologies reporting an earnings per share (EPS) of $0.06 for the quarter, which exceeded analysts' consensus estimates by $0.02 [2]. Analysts at HC Wainwright have also boosted their Q2 2026 earnings per share estimates for HIVE Digital, anticipating EPS of $0.01 for the quarter [2].

Institutional investors have been increasingly supportive of HIVE Digital, with several large investors, including Vident Advisory LLC, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd., and Cubist Systematic Strategies LLC, significantly increasing their holdings in the company [2]. This growing institutional backing underscores the company's potential for sustained growth and profitability.

Overall, Roth Capital's upgrade and price target increase reflect the company's strong fundamentals and the potential for further expansion in the Bitcoin mining sector. As HIVE Digital continues to leverage its scale and energy efficiency, investors should closely monitor the company's progress towards its 25 EH/s goal and the broader Bitcoin market dynamics.

References:
[1] https://www.marketscreener.com/news/hive-digital-technologies-crosses-16-eh-s-marching-toward-25-eh-s-as-expansion-in-paraguay-powers-f-ce7c50d8d880f32c
[2] https://www.marketbeat.com/instant-alerts/hc-wainwright-has-bullish-estimate-for-hive-q2-earnings-2025-08-20/