HIVE Stock Surges 6.5% on Bitcoin Mining Milestones

HIVE Digital Technologies, a blockchain and AI infrastructure provider, saw its stock surge on Friday, driven by Bitcoin's record rally and significant operational achievements in its mining business. The company's shares rose nearly 6.5% to $2.47 per share, increasing its market capitalization to approximately $530 million. This surge is part of a broader rebound among Bitcoin mining stocks, with HIVE's stock climbing over 21% in the past month.

HIVE's recent rally was propelled by the news that it had surpassed 12 exahashes per second (EH/s) of Bitcoin mining hashrate, doubling its output since the beginning of the year. The company is currently generating over $250 million in annualized revenue and anticipates reaching $400 million once it scales up to 18 EH/s. CEO Aydin Kilic highlighted that the company is now mining more than 6 BTC per day with an operating margin of roughly 55%.

HIVE ranks among the top 20 largest public Bitcoin holders, with 2,201 BTC reported in its latest filing. This positions the company as a significant player in the Bitcoin mining industry, with a strong financial foundation and strategic investments. The company's achievements in Bitcoin mining and revenue milestones underscore its commitment to innovation and growth in the cryptocurrency sector.

Despite the recent rally, HIVE's stock is still down over 20% for the year. The Bitcoin mining industry has faced significant operational challenges since the latest halving, which cut miners’ block rewards by 50%. This sharp drop in revenue, combined with high energy, equipment, and overhead costs, has made profitability more difficult to sustain. To stay ahead of these pressures, some miners have diversified their business models by expanding into artificial intelligence (AI) and high-performance computing (HPC) workloads. Early signs indicate that this pivot toward AI is paying off, notably for Core Scientific, which avoided financial collapse in part by shifting resources to AI operations.

HIVE Digital has also repurposed several GPUs for AI workloads, a move that significantly increased its revenue. The company highlighted Nvidia’s new H100 chips as a key driver of this growth. HIVE Digital Technologies Ltd. has reported a significant 18% increase in Bitcoin production for June 2025, driven by the successful launch of its Phase 2 expansion in Paraguay. This expansion has not only boosted the company's Bitcoin mining capabilities but also contributed to its overall revenue growth. The company has achieved a milestone operational hashrate of 50 EH/s, positioning it as a leader in the Bitcoin mining sector. This operational milestone, combined with the increased Bitcoin production, has led to a surge in HIVE Digital's stock price. The company's impressive Bitcoin treasury further solidifies its standing in the industry, reflecting its strategic investments and operational efficiencies.