5 Best Penny Stocks to Buy for Long Term

3. HIVE Digital Technologies Ltd. (NASDAQ:HIVE)

On May 19, 2026, Cantor Fitzgerald analyst Brett Knoblauch raised the firm’s price target on HIVE Digital Technologies Ltd. (NASDAQ:HIVE) to $4.60 from $3 and maintained an Overweight rating on the shares. The firm cited HIVE’s newly announced AI data center expansion in the Greater Toronto Area, which targets approximately 320 megawatts of utility capacity and represents a significant move deeper into AI infrastructure. Cantor estimates the project could require roughly $3.5B in total investment and potentially come online in the second half of 2027. The firm added that the development meaningfully improves HIVE’s long-term compute supply visibility and could strengthen its position in securing large-scale cloud tenancy agreements that may help support financing for the buildout.

A day earlier, HIVE Digital Technologies Ltd. (NASDAQ:HIVE), through its wholly owned subsidiary BUZZ High Performance Computing, announced plans to advance a large-scale AI infrastructure project in Ontario. The planned facility in the Greater Toronto Area is expected to have approximately 320 MW of utility capacity and is being positioned as one of Canada’s largest AI gigafactories. Management said the site is intended to support vertically integrated AI supercomputing infrastructure and could host more than 100,000 GPUs once fully built out.

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) operates green-energy-powered data centers and digital infrastructure operations in Bermuda and Paraguay.

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