HIVE

Infrastructure Development: HIVE Digital Technologies Ltd has completed Phase 1 of its Yguazù facility in Paraguay, featuring a 100 MW data center and a 200 MW substation, enabling support for up to 5 EH/s of mining capacity.

Growth Plans: The company aims to expand its global hashrate to 15 EH/s by the end of 2025, with plans to produce over 12 Bitcoins daily and significant investments in advanced ASIC miners to enhance operational efficiency.

U.S. Stock Market Performance: U.S. stock futures declined on Monday after a mixed performance last week, with major indices like the Dow Jones and S&P 500 experiencing losses due to declines in technology and healthcare stocks, particularly Nvidia and UnitedHealth Group.

China's Trade Warning: The Chinese Ministry of Commerce issued a warning against potential isolation by the U.S., stating that China would retaliate if its interests were compromised, emphasizing its opposition to any agreements that disadvantage Beijing.

HIVE Digital's Bitcoin Mining Performance: HIVE Digital mined 108 Bitcoin in March, increasing its total holdings to 2,201 BTC valued at approximately $180 million. The company operated with an average hashrate of 6.3 EH/s and produced an average of 3.5 BTC per day.

Strategic Reinvestment: Despite a 4% year-over-year decrease in BTC holdings due to reinvestment into long-term capital assets, including green-powered infrastructure in Paraguay, HIVE continues to focus on enhancing operational efficiency.

Coinbase's Poor Performance: Coinbase experienced a significant decline in stock value, dropping 33% in Q1 2025 despite strong revenue projections, marking its worst quarter since the FTX collapse. The overall crypto sector is also suffering, with major companies like Marathon Digital and Riot Platforms seeing substantial losses.

Market Sentiment and Analyst Outlook: The current market sentiment remains negative due to geopolitical tensions and investor uncertainty, yet some analysts maintain a positive outlook for Coinbase, with a consensus rating of Moderate Buy and price targets suggesting potential upside from current levels.

Acquisition and Expansion: HIVE Digital has completed the acquisition of Bitfarms' 200 MW hydro-powered facility in Paraguay, increasing its mining capacity by 317% and projecting a total of 25 EH/s by September 2025.

Commitment to Green Energy: This expansion aligns with HIVE's strategy to utilize 100% green hydroelectric energy, establishing a significant operational presence across Paraguay, Canada, and Sweden, with a total of 430 MW expected by Q3 2025.

Binance Founder Denies Pardon Talks: Changpeng Zhao, founder of Binance, refuted a Wall Street Journal report claiming he sought a pardon from the Trump administration, stating that the article misrepresented facts and was an attack on both the President and the crypto industry.

Coinbase Expands in India: Coinbase has registered with India's Financial Intelligence Unit as part of its international expansion, planning to launch retail services later this year while facing a price target reduction from Mizuho due to declining bitcoin prices and increased competition.

Production and Holdings Update: HIVE Digital Technologies mined 89 BTC in February 2025, maintaining a total of 2,620 BTC valued at $220 million, with a year-over-year increase in holdings despite a month-over-month decrease due to strategic sales.

Expansion Plans and Revenue Goals: The company is on track to expand its mining capacity from 6 EH/s to 25 EH/s by September 2025, while its GPU business unit aims for an annualized revenue of $20 million by Q2 2025.

Analyst Coverage Initiation: Chris Brendler from Rosenblatt initiated coverage on several Bitcoin-related stocks, including Cipher Mining (CIFR), Hive Digital Technologies (HIVE), Hut 8 (HUT), and MARA Holdings (MARA), all receiving Buy ratings with specific price targets set for each company.

Market Performance Insights: Despite a recent market pullback affecting stock performance, Brendler highlighted growth potential in high-performance computing (HPC) and projected revenues and earnings per share (EPS) for the first quarter of 2025 for these companies, indicating opportunities for investors.

Analyst Coverage: Chris Brendler from Rosenblatt has initiated coverage of Hive Digital (HIVE) with a Buy rating and a price target of $6, highlighting the company's potential for significant growth through new hydro-powered data centers in Paraguay.

Market Position: Despite having a strong position in Bitcoin mining and a growing HPC business projected to increase annual revenue significantly, HIVE's stock is currently under pressure and trades close to the value of its bitcoin holdings.

Analyst's Perspective: H.C. Wainwright analyst Mike Colonnese views the recent selloff in bitcoin miners as a buying opportunity, but advises caution due to macroeconomic factors like inflation and a hawkish Federal Reserve impacting digital asset prices.

Investment Ratings: The firm maintains Buy ratings on several mining stocks including Bitfarms, CleanSpark, and Hut 8, while adopting a neutral-to-cautious stance on bitcoin until economic conditions improve.

Market Overview: Wall Street experienced volatility due to geopolitical tensions, trade war signals, and economic slowdown, with the S&P 500 down 0.75% for the week while the Dow Jones and Nasdaq saw gains of 1.4% and 1.6%, respectively.

Trending Stocks: Notable stock movements included significant gains for Chinese electric vehicle companies, a sharp decline for cryptocurrency-exposed stocks, and mixed results from companies like Eli Lilly and Super Micro Computer, which faced scrutiny over financial reporting.

Analyst Ratings: Darren Aftahi from Roth MKM maintains a Buy rating on HIVE Digital Technologies with a price target of $7.50, while H.C. Wainwright also reiterates a Buy rating with a target of $10.00, indicating strong analyst consensus for the stock.

Company Performance: HIVE reported quarterly revenue of $22.48 million and a GAAP net loss of $7.66 million, showing improvement compared to last year's revenue of $20.09 million and a larger net loss of $24.55 million.

Analyst Upgrade: H.C. Wainwright has increased the price target for Hive Digital (HIVE) from $8 to $10, maintaining a Buy rating due to strong fiscal Q3 results and underappreciated growth prospects, particularly in artificial intelligence.

Investment Insights: TipRanks offers tools like Smart Score to help investors track stock performance and compare their picks with Wall Street analysts' recommendations.

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Earnings Performance: HIVE Digital Technologies reported a quarterly loss of $0.06 per share, outperforming the Zacks Consensus Estimate of a loss of $0.11, and has surpassed EPS estimates three times in the last four quarters.

Future Outlook: The company's favorable earnings estimate revisions have led to a Zacks Rank #2 (Buy), indicating potential outperformance in the near future, despite its shares underperforming the market so far this year.

Major Earnings Reports: Key companies reporting earnings after the market close on Tuesday include Energy Transfer LP, Gilead Sciences, W. P. Carey, Super Micro Computer, and Upstart Holdings.

Additional Earnings Releases: A wide range of other companies are also set to release their earnings, including ADC, AIG, LYFT, and SAGE among others.

Real-time Intelligence for Traders: Benzinga Pro offers the fastest news alerts and exclusive stories to help traders make informed decisions in the stock market.

Community of Serious Traders: Over 10,000 traders are part of the Benzinga Pro community, benefiting from accurate market intelligence and timely updates.

MicroStrategy's Bitcoin Acquisition: MicroStrategy has purchased approximately 10,107 bitcoins for $1.1 billion, raising its total holdings to about 471,107 bitcoins valued at around $30.4 billion. Analysts from Mizuho and Compass Point have initiated coverage with positive ratings, highlighting the company's strategy of leveraging equity issuance to increase bitcoin holdings per share.

Coinbase Expands and Receives Upgrades: Coinbase added four new members to its Global Advisory Council and received an upgrade from Mizuho, which raised its price target due to anticipated growth in bitcoin adoption. The company is also expanding its operations into Argentina, aiming to enhance economic freedom while ensuring regulatory compliance.

Real-time Intelligence for Traders: Benzinga Pro offers the fastest news alerts and exclusive stories to help traders make informed decisions in the stock market.

Community of Serious Traders: Over 10,000 traders are part of the Benzinga Pro community, benefiting from accurate market intelligence and timely updates.