HIVE Digital Technologies Ltd. (HIVE) Surges 8% as Bitcoin Production Hits 247 BTC

In this article, we will be taking a look at the 13 Best Manufacturing Stocks to Buy Right Now. HIVE Digital Technologies Ltd. is one of them.

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) is a multinational digital infrastructure company that started in cryptocurrency mining and has expanded into energy-efficient, AI-ready datacenter operations. Headquartered in Vancouver, HIVE operates major facilities in Canada, Sweden, and Paraguay, largely powered by renewable energy.

Recently, HIVE reported a 22% month-over-month increase in Bitcoin production, mining 247 BTC in August compared to 203 BTC in July. Its average hashrate reached 16.3 EH/s, peaking at 18.1 EH/s as the Phase 2 Yguazú expansion in Paraguay came online, producing over 8.5 BTC daily. The nearly completed Phase 3 expansion is expected to boost global capacity to 25 EH/s by Thanksgiving, targeting 12 BTC daily, around 3% of the global Bitcoin mining network.

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) is also advancing its AI and enterprise datacenter strategy. Through its BUZZ HPC subsidiary, the company acquired a 7.2 MW Toronto data center for CAD$17.25 million, upgrading it to Tier 3 standards to support AI, machine learning, and cloud enterprise clients. This complements its partnership with Bell Canada, integrating advanced GPU infrastructure and energy-efficient high-performance computing for AI workloads.

HIVE Digital Technologies Ltd. (HIVE) Surges 8% as Bitcoin Production Hits 247 BTC

These operational and strategic developments have driven strong investor sentiment, with HIVE Digital Technologies Ltd. (NASDAQ:HIVE) stock up 8% in September, reinforcing its position as one of the best penny stocks to watch in the crypto and AI infrastructure space.

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.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy NOW 

Disclosure: None.