10 Best Penny Stocks to Buy for 2026

8. Hive Digital Technologies Ltd. (NASDAQ:HIVE)

Stock Upside Potential: 185.95%

Share price: $3.25

Number of hedge fund holders: 9

Hive Digital Technologies Ltd. (NASDAQ:HIVE) is one of the best penny stocks to buy in 2026. On January 7, Hive Digital Technologies Ltd. (NASDAQ:HIVE) reported strong Bitcoin production for December 2025, generating 306 BTC, nearly triple the amount mined a year earlier, even as network difficulty climbed about 40%. The company averaged 9.9 BTC per day, supported by a hashrate of 23.3 EH/s, which peaked at 24 EH/s, and a fleet efficiency of 17.5 joules per terahash. For the full year, Bitcoin production reached 2,311 BTC, a 31% increase from 2024, highlighting the company’s ability to scale despite the halving and record network difficulty.

HIVE is now focused on expanding its infrastructure, with plans to add 100 MW of hydro-powered capacity at its Yguazú campus in Paraguay by the third quarter of 2026. Once completed, the company’s renewable energy footprint will rise to 540 MW across Paraguay, Canada, and Sweden. Management continues to emphasize capital discipline and free cash flow generation, positioning green energy as a long-term advantage.

Earlier on December 12, Rosenblatt lowered its price target to $6.50 from $10 while maintaining a Buy rating, citing competitive pressure and Bitcoin price volatility. Management remains confident in HIVE’s ability to protect margins and grow through 2026.

Hive Digital Technologies Ltd. (NASDAQ:HIVE) develops and runs eco‑friendly data centers that support Bitcoin mining and high‑performance computing for AI, powered by renewable energy such as hydroelectricity.