Hive Digital Technologies (HIVE): Race to $250 Million AI Revenue in 2026

Hive Digital Technologies Ltd. (NASDAQ:HIVE) is among the best AI stocks to buy under $25. On April 16, Hive Digital Technologies Ltd (NASDAQ:HIVE) announced that it was raising $100 million through a private offering of exchangeable senior notes due 2031. It said that proceeds from this offering would help fund capital investments, including purchase of graphics processing chips and data center development.

Hive Digital Technologies Ltd (HIVE): Race to $250 Million AI Revenue in 2026

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With the increasing AI adoption, Hive Digital Technologies Ltd (NASDAQ:HIVE) is expanding its data center capacity to take advantage of the growing business opportunity. On March 18, Hive Digital announced that its AI cloud platform in Paraguay is now operational, calling it a milestone development.

The company further said that a Columbia University research team was running AI modeling pre-training workloads on its newly deployed platform. The performance data generated by the university team will support Hive Digital’s roadmap to commercial capacity scaling in Paraguay.

Hive Digital operates data centers in Paraguay, Sweden, and Canada. It also recently announced a four-fold expansion of its AI data center capacity in Canada. On March 16, the company said that it was increasing the capacity of its Canadian facilities from 4 MW to 16.6 MW. These are liquid-cooled data center facilities in Manitoba and British Columbia that run critical IT workloads.

According to Hive Digital, the expansion allows for deployment of more than 4,000 AI-optimized GPUs across British Columbia and Manitoba. Its aim is to reach 6,000 GPUs deployment in Canada with contracted annualized revenue run-rate of $200 million by March 2027. The company targets $250 million in AI revenue in 2026. Its AI revenue was only $1 million in 2023.

Hive Digital Technologies Ltd (NASDAQ:HIVE) is a digital infrastructure company. It builds and operates data centers powered by clean energy. Its data centers primarily serve clients running blockchain and AI workloads.

While we acknowledge the risk and potential of HIVE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than HIVE and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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