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Analysts at Wall Street investment bank H.C. Wainwright say the stock of Canadian Bitcoin miner HIVE Digital Technologies (TSXV: $HIVE ) is "significantly undervalued."

The comments come after HIVE announced its latest financial results and a new $30 million contract to buy Nvidia's (NASDAQ: $NVDA ) microchips for its BTC mining and data centre operations.

H.C. Wainwright, a boutique investment bank, reiterated a buy rating on HIVE stock with a $7 U.S. price target. The price target is 230% higher than where the shares currently trade.

Analysts at H.C. Wainwright say that HIVE now has a "much larger and more efficient" Bitcoin mining business and that HIVE's stock trades at a 50% discount to its peers in the space.

Additionally, the investment bank notes that HIVE is one of only a handful of Bitcoin miners to secure high-performance computing deals and also build out data centres.

The analysts add that HIVE is getting little credit for its graphics processing unit (GPU) cloud business, which it is developing using Nvidia's artificial intelligence (A.I.) technology.

H.C. Wainwright also highlights that HIVE achieved impressive revenue growth of 112% over the past 12 months.

Lastly, the Wall Street firm notes that HIVE's GPU Cloud business ended 2025 generating $20 million U.S. in annualized run-rate revenues and is expected to generate $35 million U.S. in the current quarter.

HIVE stock has declined 25% in the last 12 months and currently trades at $2.12 U.S. per share on the Nasdaq exchange.

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