5 Best Software Penny Stocks to Buy Now

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

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) is one of the 8 best software penny stocks to buy now.

On March 16, HIVE Digital Technologies Ltd. (NASDAQ:HIVE) announced a 4x expansion of its liquid-cooled AI data center capacity through its previously announced strategic data center partner in Canada. This grows the existing 4 megawatts (MW) in Manitoba to 16.6 MW of critical IT load across two Canadian provinces.

The expansion involves building a new colocation center in British Columbia, which will immediately add 5 MW of capacity, with room for an additional 7.6 MW. This instant capacity enables deployment of more than 2,000 next-generation, high-power-density AI-optimized GPUs in British Columbia, while at the same time, there will be a capacity for roughly 2,000 GPUs in the Manitoba facility.

On March 13, Hive Digital Technologies Ltd. (NASDAQ:HIVE) and AMC Robotics Inc. (NASDAQ:AMCI) formally announced a strategic corporate partnership. The main goal of this joint agreement is to advance artificial intelligence-driven modern robotics applications combined with highly scalable infrastructure capabilities.

Thanks to this partnership, AMC has been able to take advantage of Hive’s unique GPU AI compute infrastructure. These technological services are necessary to support the increasing development processes, rigorous testing phases, and vast deployment requirements. To accommodate future product launches, teams from both companies are actively exploring further cooperation opportunities regarding AI optimization, advanced data processing, and general infrastructure scalability.

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) constructs and operates data centers that run on renewable energy sources in Bermuda and Paraguay. It offers performance computing hosting services, as well as mining and selling of virtual currencies. Additionally, it also offers infrastructure solutions to the blockchain sector.