HIVE Digital Technologies (Nasdaq: HIVE), the Bitcoin mining company, has seen its stock rally as the firm recently claimed to have captured 2% of global Bitcoin production.
Founded in 2017, HIVE Digital Technologies has a global footprint in Canada, Sweden, and Paraguay and depends exclusively on renewable hydroelectric energy to mine Bitcoin.
Related: What is Bitcoin mining? Explained
For the unversed, Bitcoin mining is the process of using high-end computing to solve cryptographic functions to validate and add BTC transactions in order to add blocks to the blockchain network.
A miner is rewarded with BTC rewards for adding blocks to the Bitcoin network.
HIVE captures 2% of global Bitcoin production
On Sep. 23, the firm announced exceeding 20 Exahash per second (EH/s) of global Bitcoin mining capacity, representing approximately 2% of the global Bitcoin production.
In a recent conversation with TheStreet Roundtable , HIVE Digital co-founder and executive chairman Frank Holmes revealed ,
"We are now accelerating rapidly our Bitcoin production that by American Thanksgiving we should be 3% of the global Bitcoin production — and it's all green coins."
The company's recent Bitcoin achievement and its bullish outlook on future production had a positive impact on the charts as the stock has jumped 35% in a month.
However, it fell 11.6% to close at $3.58 on Sep. 25.
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Most analysts ask traders to buy HIVE
As per TipRanks , Michael Grondahl, a senior research analyst at Northland Securities, has reiterated his price target of $6 for the HIVE stock and granted it a Buy rating.
Related: Explained: Types of Bitcoin mining
Darren Aftahi, a research analyst at Roth Capital Markets, has also raised the price target from $6 to $7.5 and granted it a Buy rating.
KBW analyst Bill Papanastasiou thinks the stock can go as high as $11 and granted it a Buy rating.
TR's Mira Patchera, on the other hand, has raised the price target from $2.87 to $3.94 and granted it a Hold rating.
HIVE was trading at $3.62 in pre-market hours on Sep. 26.
This story was originally reported by TheStreet on Sep 26, 2025, where it first appeared in the Investing section. Add TheStreet as a Preferred Source by clicking here.
