5 High Growth Penny Stocks to Buy

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

On June 25, 2026, HIVE Digital Technologies Ltd. (NASDAQ:HIVE) announced that HIVE Bermuda 2026, its wholly-owned subsidiary, intends to offer $100M aggregate principal amount of 0% exchangeable senior notes due 2031. The private offering is subject to market conditions and other factors and will be made to persons reasonably believed to be qualified institutional buyers under Rule 144A of the U.S. Securities Act of 1933. The issuer also expects to grant initial purchasers an option, exercisable within 13 days from and including the date the notes are first issued, to purchase up to an additional US$15 million aggregate principal amount of notes.

Also on June 25, HIVE Digital Technologies announced that it signed a non-binding letter of intent with an investment-grade, sovereign Swedish technology company for an up to 10-year lease of its 32 megawatt Boden, Sweden facility. The company expects to retrofit the facility to support up to 10,000 GB300 GPUs, with single rack densities up to 150 kW, using hybrid direct-to-chip liquid cooling and air cooling. The site’s 32 MW gross utility load correlates to about 25 MW of critical IT load, which the LOI contemplates for HPC colocation.

On June 18, HIVE Digital Technologies, through wholly owned subsidiary BUZZ High Performance Computing, announced a sovereign AI infrastructure deal involving Bell Canada (BCE) and Cohere. The collaboration brings together Bell AI Fabric’s national data centre and connectivity platform. BUZZ HPC executed a three-year GPU cloud contract with a total contract value of approximately $220M.

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

While we acknowledge the potential of HIVE to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than HIVE and that has 100x upside potential, check out our report about the cheapest AI stock.

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