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HIVE Digital Technologies ( (TSE:HIVE) ) has issued an announcement.
HIVE Digital Technologies Ltd. is making a significant investment of $30 million to expand its NVIDIA GPU clusters in Quebec, aiming to enhance its position in the AI and high-performance computing markets. This strategic move is expected to generate considerable revenue, with projections of over $20 million in annualized run-rate revenue by Q2 2025, while also supporting sustainable operations with renewable energy. The deployment of these advanced computing clusters not only aligns with HIVE’s sustainability goals but also positions the company to capitalize on the growing demand for AI solutions across various industries, offering scalable, innovative capabilities to businesses and societal sectors.
More about HIVE Digital Technologies
HIVE Digital Technologies Ltd. is a pioneering technology company specializing in sustainable blockchain and AI infrastructure, leveraging green energy. Known for its innovative digital asset mining and HPC computing, HIVE operates across Canada, Sweden, and Paraguay, maintaining a focus on reducing its environmental footprint.
YTD Price Performance: -35.65%
Average Trading Volume: 6,536,101
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $374.3M
See more insights into HIVE stock on TipRanks’ Stock Analysis page.
