HIVE high this year $6.64 BUT previous highs, when bitcoin was climbing were $26.81 and $24.70. HIVE is now a new transformed company with MUCH grater computing power. Still making excellent money producing increasing amounts of bitcoin, BUT increasingly it is making more and more money working with artificial intelligence.
MANY commentators have complained about bitcoin miners because they use so much electrical power, and that they get their electricity from power companies that us CO2 producing substances such as natural gas.
HIVE has now using 100% clean energy sources such as hydroelectric power. Investors, especially big investors, like that.
Recently, gold and bitcoin backed off after reaching new highs. HIVE nosedived because people thought it was the start of a downward slide, but both are more than recovering. Two weeks ago bitcoin fell to $40,985. It started recovering, and then, today it took off. This morning bitcoin was $42,280 and at this time it is already at $45,298 +$2,963 for the day.
Gold and bitcoin should continue to rise. People will realize that, and HIVE is going to take off. The FDA is in the process of approving a bitcoin EFT, WHICH WILL GREATLY INCREASE ITS AVAILABILITY, INCLUDING MAJOR PLAYERS, BITCOIN IS GOING TO SURPASS ITS PREVIOUS HIGHS!
Considering that HIVE is a transformed stronger company, it should continue climbing throuhout 2024 and could easily pass its previous high of + $25.
Here is some info on the new HIVE company.
HIVE is a leading "green" miner. Unlike other "bitcoin" miners, HIVE uses carbon free energy, hydro power and geothermal energy, that do not cause global warming. (This is a BIG selling point in its favor. Other bitcoin miners, because they use so much energy which is generated using global warming sources such as natural gas and even coal, are being constantly attacked by environmental groups, as well as by editorials in various publications.)
HIVE expects to have 2,800 GPUs listed with our HPC platforms by next week. Once these chips realize full market utilization, HIVE expects to realize over $15 million of annual run rate revenue starting next month (January 2024). We previously had a revenue rate of $4 million annually.
Additionally, the Company is installing the infrastructure in January for another 2,000 GPUs. Therefore, once all 4,800 of these GPUs are listed and realize full market utilization, HIVE expects to reach over $25 million of annual run rate revenue in Q1 2024, with robust gross margins.
By harnessing innovation, HIVE's data center teams have unlocked the potential of existing GPUs at their Boden, Sweden facility. These GPUs, originally dedicated to mining, are now tapping into their capabilities for lighter HPC workloads, such as their use for artificial intelligence, AI. Frank Holmes the Executive Chairman of HIVE said "[Through the use of our GPU units for the increasing demand of alternative uses of our Computive capabilities, such as, AI] HIVE has seen a healthy four-fold increase in daily revenue. The demands of these alternative uses are expected to increase over time. In simple terms we have gone from $250,000 a quarter (every four months) to $250,000 a month and expect to be $250,000 a week by March 2024. The transformation has been achieved without large additional capital expenditures. Repurposing over 3,000 GPUs within their crypto-mining facility has not only led to higher revenue but has also boosted profitability by approximately six times. HIVE's focus on return on invested capital and commitment to optimization and resourcefulness continues to drive our progress in the ever-evolving world of data centers and cryptocurrency mining.
Stonegate Capital Partners Updates Coverage on HIVE Digital Technologies LTD. (TSXV: HIVE)
DALLAS, TX -- December 7th, 2023 -- HIVE Digital Technologies LTD. (TSXV: HIVE): Stonegate Capital Partners updates coverage on HIVE Digital Technologies LTD. (TSXV: HIVE).
Business Overview
HIVE Digital Technologies is a Canadian-based sustainable Bitcoin mining Company with mining facilities in Canada, Sweden, and Iceland. As HIVE has expanded and upgraded its Bitcoin mining fleet, the Company has become one of the most efficient miners. By combining its expertise in Bitcoin mining and data center operations, HIVE is also fueling the advancement of Web3, AI and HPC by actively participating in the decentralized digital economy.
Company Updates
- Preparing for the Halving: With the impending halving of Bitcoin expected in April of 2024, HIVE has been taking deliberate steps to prepare itself. In the last 12 months the Company has purchased 29,000 new generation ASIC machines. The Company has recently purchased 9,800 Bitmain S19k Pro miners to replace 38 J/TH ASIC machines with 22 J/TH ASICs, greatly improving efficiency. This is already being seen as the Company recently hit its interim goal of 4.0 EH/s.
- Repurposed GPUs: HIVE began repurposing its GPU fleet following the ETH Merge. In 2Q23 HIVE announced that GPUs would be used for cloud computing services supporting artificial intelligence (AI). With how GPU intensive AI applications are, this GPU allocation gives investors direct exposure to AI. Using approximately 400 GPUs out of the ~38,000 available, HIVE saw a very successful beta test. Since the completion of this beta, the Company is generating ~$250,000 per month from GPUs as of November, with the goal to generate $250,000 per day.
- Name Change as Industry Evolves: In July, the Company changed its name from “HIVE Blockchain Technologies” to “HIVE Digital Technologies”. This adjustment was made to more fully capture the potential that HIVE sees in the market to not only take advantage of the possibilities provided by mining Bitcoin, but also to use its GPU units to drive stable revenues in the high performance computing (HPC) segment, specifically around AI