Hive Blockchain Technologies Ltd., now called HIVE Digital Technologies Ltd., might see its price jump by a huge 1,237,140.19% by 2030. This is based on its current price of $2.751. Why is this expected, and what does it say about the company’s future and market trends?
As of September 21, Hive Blockchain’s stock was at $2.75, with 2,518,948 trades2. This is much less than its usual 4,312,7902. The company’s worth sits at $326.832 million, showing a mix of risks and opportunities2. A day’s trading can see the price move from $2.72 to $2.88, highlighting its instability2. HIVE’s price has varied a lot over the year, from $2.18 to $5.74, proving it’s really affected by the bigger crypto market2.
Analysts think buying HIVE is a smart move, with 24.42% of its stock owned by big investors3. They believe the company’s earnings will improve, going from a loss of $0.28 to a loss of just $0.04 per share3. HIVE’s beta score is 3.52, which means its stock moves much more than the market in general3.
Key Takeaways
- Projected price increase of over 1,237,140.19% by 2030 signifies huge growth potential1.
- Current trading volume is significantly lower than average, indicating heightened volatility2.
- Analysts rate HIVE as a “Buy,” highlighting positive investor sentiment3.
- HIVE’s market capitalization stands strong at $326.832 million2.
- Current price and 52-week range underscore high volatility and market sensitivity2.
Introduction to Hive Blockchain
Hive Blockchain Technologies Ltd has a new name: HIVE Digital Technologies Ltd. It’s a company from Canada that mines digital currencies. They manage computing centers that focus on Bitcoin and other cryptocurrencies. The company also works on technology for the blockchain industry, using eco-friendly methods. It started in 1987 in Vancouver. For over three decades, it has been a key player in the digital currency world4.
What is Hive Blockchain?
Hive Blockchain uses cutting-edge technology to mine digital coins like Bitcoin and Ethereum. It focuses on being sustainable and efficient. The company is growing strongly. It bought 1,000 new mining machines and plans to build a green data center in Paraguay4. This shows it cares about keeping its carbon footprint low. This is important for investors and for analyzing Hive’s blockchain efforts.
Company Background and History
HIVE Blockchain was first setup in 1987. It has adapted through many tech changes and market shifts4. In 2018, it got listed on NASDAQ5. Now, it has a market value of $371 million and a NASDAQ price of $2.755. Even with challenges like a negative EPS, it stays strong in the market5. Recently, it mined 112 Bitcoins in a month and holds 2,496 Bitcoins. This shows its efficiency and room for future success4.
Recent Hive Blockchain Share Price Performance
The hive blockchain market has been up and down lately. This shows its lively nature. The last closing price was 2.8000 USD, with the day’s trading between 2.7200 – 2.8800 USD6. This points to short-term changes. Over the past year, prices went from 2.1800 USD to 5.7400 USD, showing big moves6. On the day we looked, 2,518,948 shares were traded, showing a lot of activity6.
Looking deeper into Hive Blockchain, some numbers really stand out. The company is worth about 335.47 million USD now6. Its stock beta is 1.50, meaning it’s more up and down than most6. And its EBITDA margin is 11.50%, telling us how well it’s doing in its operations6.
The share price of Hive Blockchain gives us a way to compare it to others. Last week it went down by -13.25%. Over the past month, it dropped -6.46%. And over the last year, it fell -20.75%6. This shows it’s quite a rollercoaster6.
Looking at the company’s finances gives us more clues. It lost -50.98 million USD last year but made 113.96 million USD in sales6. It has 118.10 million shares out there, showing how many are available to buy6. It once hit a high of 28.75 USD and a low of 0.29 USD, showing its price range over time6.
| Metric | Value |
|---|---|
| Latest Share Price | 2.75 USD (decrease of 1.79%)7 |
| Market Capitalization | 322 million USD7 |
| Intrinsic Value (Base Case) | 1.71 USD (38% overvaluation)7 |
| Average 1-Year Price Target | 4.46 USD (Low: 3.82 USD, High: 5.21 USD)7 |
| Profitability Score | 13/100 (3-year revenue growth: 6%, negative 1-year revenue growth: -5%)7 |
| Solvency Score | 68/100 (negative net debt: -172.5 million USD; debt-to-equity ratio: 0.08)7 |
| 52-Week Price Range | 2.27 USD – 5.72 USD7 |
The recent performance of the hive blockchain market shows how tricky and unpredictable the crypto and blockchain sector can be. The financial numbers and price changes give us a peek into how Hive Blockchain handles these ups and downs.
Key Financial Metrics of Hive Blockchain
Looking at the hive blockchain financials, we find important numbers. These include the company’s size, its earnings, and how profitable it is. Let’s dive into these key figures.
Market Capitalization
On September 5, 2024, Hive Digital Technologies Ltd’s value was $451.9 million. This puts it in a strong position within its industry8. Its overall market value, or enterprise value, is about $323.4 million9. This shows the company’s big footprint in the market.
Revenue and Net Income
In the past year, Hive Digital Technologies Ltd made $166.3 million but had a profit margin of -25.7%8. In the same period, HIVE Blockchain earned $113.96 million but lost $50.98 million9. These figures highlight the financial ups and downs they’ve faced.
Profitability Ratios
The Price/Sales ratio for HIVE Blockchain is 2.729. While there’s no current P/E ratio, the future P/E ratio is expected to be 84.759. The Price/Book ratio stands at 1.229, and the company’s value compared to its earnings before interest, taxes, depreciation, and amortization is 8.029. The negative profit margin and a gross loss of -$25.9 million show recent financial troubles. The company also has a pretax profit margin of -0.399.
The financial details for hive crypto stock highlight its market stance. They offer insights for those interested in investing.
Current Market Trends Impacting Hive Stock
It’s key to understand market trends to assess Hive Blockchain’s path. Hive stock is shaped by Bitcoin’s market swings.
Bitcoin Market Influence
Hive’s earnings are linked to Bitcoin’s price, thanks to its focus on crypto mining. Changes in Bitcoin affect Hive’s stock price. For example, Hive’s stock follows the wider crypto market’s ups and downs. This affects their finances. Hive touched a yearly high of $5.74 and a low of $2.18, showing big changes over the year10.
AI Computing Diversification
Hive is moving towards AI computing. This is due to the Bitcoin halving, pushing some to explore AI markets. This new path could open a big market for Hive. They bought a data center in Boden, Sweden. This deal shows Hive’s big commitment to AI, costing up to $750,000 in cash and $1,500,000 in shares2.
Global levels for HIVE stock are $1.50 and $26.25. This shows where its price might struggle or soar2. The stock could grow by 226% in the medium term2. These numbers show a bright future for Hive as it expands into AI.
Share Price Analysis
A closer look at the hive share price shows big ups and downs. These are due to the overall crypto market feelings. The analysis of hive stock price shows it’s pretty unpredictable. This mirrors how traders see Hive’s role in the crypto mining world.
HIVE Digital Technologies could grow by 141.9%, hitting a C$9.00 price target. This makes it attractive for those looking for big returns11. Yet, the lack of analyst attention in the last 90 days could affect its visibility and impact trader choices11.
A key point from the analysis is the insider trading. Insiders sold C$2,998.00 worth of stock recently11. This might worry some investors. Only 0.40% of HIVE’s shares are held by insiders. Meanwhile, institutions own 29.74%, showing they believe in the company’s future11.
Looking at value, HIVE Digital Technologies has a Book Value Ratio of 1.60. This suggests it’s priced fairly based on its assets11. But, its P/E ratio is -7.91, pointing to negative earnings and profitability worries11. HIVE also reported a net loss of C$-31,700,000.00 and an EPS of C($0.47)11.
On the financial side, HIVE’s sales are C$123.14 million with a market cap of C$441.53 million11. Its Debt-to-Equity Ratio is 10.36, and it has a good Current Ratio of 7.35. This shows HIVE can cover its debts well. With C$23.48 million in EBITDA and an 11.50% margin, it stands stable financially despite hurdles12.
The trends also show HIVE’s yearly revenue growth at C$154.38 million. It has a Beta of 1.50, meaning it’s more volatile than the market12. It employs 20 people and has a Price/Sales ratio of 3.5912. These points are crucial in understanding the depth of hive stock price analysis, for investors.
Factors Influencing the Hive Blockchain Share Price
The Hive Blockchain share market is shaped by several key elements. These include the unpredictable nature of the crypto market, the company’s financial performances, and advancements in technology.
Cryptocurrency Market Volatility
The crypto market’s ups and downs greatly affect Hive Blockchain. In the past 90 days, HIVE Blockchain’s movements show this instability13. Bitcoin’s price changes are risky, as seen by HIVE’s high beta of 4.14 compared to the Dow Jones13. This risk is often seen in the share price of Hive.
Company Earnings Reports
Earnings reports are vital for investors watching Hive Blockchain. Last year, HIVE Blockchain made $113.96 million but lost $50.98 million13. In August, their price-to-earnings ratio was negative at -1.75, and earnings per share were -$0.18, missing by six cents14. These financial results strongly influence how investors view and act on the stock.
Technological Advancements
Technological progress is crucial for Hive Blockchain. Advancements and moving into AI computing are key growth drivers. HIVE Blockchain’s focus on new tech and blockchain infrastructure is intended to strengthen its market position. Such innovations boost investor confidence and can improve stock value.
Latest News and Updates on Hive Blockchain
In recent hive blockchain news, HIVE Digital Technologies has shown big growth. They mined 112 Bitcoins in August 2024, getting a total of 2,533 Bitcoins. This shows how strong their mining work is15. They also had a great quarterly report in August 2024. Their earnings were $32.2 million with profits of $14.9 million1516. They mined 449 Bitcoins in this quarter, which adds more to their assets15.
HIVE is also planning to grow big. They’re going to build a 100 MW hydroelectric data center in Paraguay. This will increase their computing power to more than 12 Exahash by next year1516. This step shows HIVE’s plan for using clean energy and growing their business.
Last year, HIVE did really well too. They made $114.5 million and had a profit of $37.5 million1516. They had 2,287 Bitcoins by the end of March 2024, showing they’re growing steadily. They also bought 1,000 Bitmain S21 Pro Antminers to better their mining work16.
HIVE has been steady in making Bitcoins. For example, in July 2024, they made 116 Bitcoins. This was a 2% increase, bringing their total to 2,533 Bitcoins1516. This regular growth shows they’re doing well even when the market changes.
Lastly, HIVE’s big plans for the Paraguayan data center are worth noting. They want to more than double their computing power and revenue by next year1516. This big goal shows how committed HIVE is to grow and do better in the market.
Comparative Performance with Competitors
It’s key to know how the hive blockchain stands against rivals. HIVE Blockchain has reached a Bitcoin mining output of 5 EH/s in April. This marks a huge achievement in how well it operates17. With over 98% monthly average hash rate use in 2023, HIVE is a top performer in North America17. The growth, profit, and efficiency of the company show its edge over competitors.
Performance vs. Riot Platforms
In a head-to-head with Riot Platforms, HIVE’s EV/R ratio of 1 is way lower than Riot’s 9.817. This hints that HIVE may be undervalued compared to Riot Platforms. HIVE’s P/B ratio also points to being undervalued against rivals like Riot17. Riot faces higher costs per Terahash per Second (TH/s) than HIVE, indicating HIVE’s efficiency.
Performance vs. Hut 8 Mining Corp
HIVE competes with Hut 8 Mining Corp in crypto mining. HIVE’s Bitcoin mining ASIC hashrate jumped 57% from March 2023 to March 202418. This display of growth is impressive. With a 36% gross operating margin by March 31, 2024, HIVE stands strong against Hut 818. HIVE’s low-cost structure and plans for expansion further boost its position17.
Performance vs. Other Crypto Stocks
Looking at the wider hive blockchain competition, HIVE shows strong market presence. Its cost per TH/s is $18, aiming to drop to $11 with an 8.0 EH/s target17. This outperforms others like CleanSpark17. HIVE also had impressive Bitcoin holdings, closing with 2,287 BTC worth $161.3 million18. Its mining revenues hit $111.0 million, boasting a solid operating margin and adjusted EBITDA18. These figures put HIVE ahead in the crypto stock game.
For a deeper dive into how HIVE sizes up to its competitors, check out more here17.
Investor Sentiment and Market Perception
Understanding how people feel about Hive stock is important for current and future shareholders.
Analyst Ratings and Price Targets
Many analysts give ratings and set price goals that affect how investors view Hive. They see a bright future with a target price of $5.92, even after financial ups and downs. Last year, Hive made $106,317,218, less than half of the previous year’s $211,184,02919. They also faced a big loss of $236,422,300 compared to earning $79,622,129 before19. Still, with a gross operating margin of $50,369,332, down from $162,357,436, Hive shows it can handle tough times19.
In the third quarter of 2022, Hive earned $14.3 million and had a mining margin of $3.6 million20. They mined 787 Bitcoins, yet faced a huge pre-tax loss of $90.4 million20. Despite the ups and downs, the stock grew by 315% since the start of the year21. This shows it’s important for investors to keep an eye on these changes.
Public Perception and News Coverage
What people read in the news shapes their view of Hive. Stories highlight Hive’s work in AI and Bitcoin mining. For example, diving into generative AI led to a 108% stock jump in one month, showcasing the benefits of exploring new tech21.
Hive also focuses on eco-friendly operations with data centers in cold places like Iceland and Sweden, running on green energy21. This eco-focus helps investors see Hive in a positive light. Plus, big steps like BlackRock and Fidelity potentially launching a Bitcoin ETF boost confidence in Bitcoin and Hive alike21.
The Ethereum Merge changed how Hive mines Ethereum, but the company remains strong21. Being part of a limited group that can mine only 21 million Bitcoins, especially with a halving event in 2024, puts Hive in a good position for future growth21. Investors are advised to have 3-5% of their portfolio in Hive for better diversification21.
Long-Term Outlook for Hive Blockchain
Looking at the future of Hive Blockchain, we see they’re moving towards AI and diverse cryptocurrency plans. This shift aims to strengthen Hive’s market role amidst cryptocurrency market swings. The outlook for Hive stock appears bright, especially with its strategy to hold onto currencies and expand globally.
Hive Blockchain’s recent money matters show both hurdles and promise. Its stock price is now $2.75 USD, and a lot of stocks have traded hands22. Even though the share value dipped by 1.79%, experts rank Hive in the top 29% of its field22. This rank shows Hive has a strong chance of doing well against others.
Experts predict Hive’s stock might reach between $5.00 and $9.00, averaging at $6.50. This increase is 132.14% higher than now22. Their focus on AI might boost their earnings significantly. With a current projection of EPS at -0.09, Hive seems set to grow22.
The value of Hive shows it could see big ups and downs, yet offers a chance for good returns23. Hive’s Zacks Rank of 2-Buy and a strong buy recommendation of 1.25 suggest it’s a good pick22. A high volatility rate of 181.24 means prices might swing a lot, but the return could be worth it23.
About 26.0% of Hive is owned by big investors, showing their faith in its future23. Hive’s choice to split stock in May 2022 and not give out dividends says they’re focused on reinvesting for growth23. Given these points, Hive Blockchain’s future looks very promising as it smartly adjusts to market changes and shows solid financial growth.
Tips for Investing in Hive Stock
If you’re thinking about putting money into hive stock, there are ways to lower risks and get the most out of your investment. Here’s what you should keep in mind for hive blockchain investing:
Research and Due Diligence
Doing your homework is key before making any investment moves. Hive Digital Technologies’ stock last closed at $2.75, which is a drop of 1.79% from its previous day. It also saw a decrease of 19.83%24 over last year. This recent dip highlights why it’s vital to stay up-to-date on the market and how the company is doing.
Still, Hive’s revenue grew by 61.29% each year over three years. This beats the Capital Markets industry’s average growth of 15.79%24. It shows Hive has strong financial health, something investors should think about.
Risk Management Strategies
The crypto market is known for being unpredictable. So, having good risk management when investing in hive stock is a must. Hive Digital Technologies stock is currently +26.15% from its 52-week low of $2.18. Yet, it’s -52.09% away from its 52-week high of $5.7424. Prices can change a lot, and that can seriously affect your investment.
Analysts giving Hive a strong buy rating shows they believe in its future. But, you should also look at its price-to-earnings (P/E) ratio of -7.56x and price-to-book (P/B) ratio of 1.2225. This will give you a fuller picture of whether it’s a good investment.
Portfolio Diversification
Spreading your investments across different areas is a proven way to handle risks. Big investors like BlackRock Inc. and Bank of America Corp own about 26.0% of Hive Blockchain Technologies shares26. Their involvement suggests a belief in HIVE’s potential. Mixing hive blockchain investments with other assets can stabilize your portfolio and lessen the impact of market swings.
To invest wisely in hive stock, do in-depth research, use risk management, and diversify your portfolio. Always be in the loop and tweak your strategies as the market and company performance change.
Recent Developments in Hive Blockchain Technologies
In the past few years, major hive blockchain developments have been shaping the company’s future. It’s vital to recognize these updates to understand how the firm is growing and advancing.
Name Change to Hive Digital Technologies
The company changed its name from HIVE Blockchain Technologies to HIVE Digital Technologies. This reflects its expanded focus in the digital assets world. It shows the company’s dedication to being innovative and growing technologically.
New Data Center Developments
HIVE Digital Technologies announced a new 100 MW hydroelectric data center in Paraguay. This marks a big step in growing their operations and using sustainable energy16. They also run high-tech, eco-friendly data centers across Canada, Sweden, Iceland, Switzerland, and Bermuda27. These centers are key for HIVE’s mining work, with power over 4.5 Exahash (EH/s)27.
Partnerships and Acquisitions
HIVE has teamed up with top industry leaders and bought new tech to boost its operations. Buying Bitmain S21 Pro models has really upgraded their mining equipment27. They plan to increase their hashrate to over 12 Exahash next year. Their goal is to double their revenue16.
By keeping up with digital currency market trends, HIVE stays ahead in the blockchain field. It uses the latest hive technology to stay competitive.
The company’s use of hive blockchain developments in its planning shows its aim for growth and innovation. With new data centers and partnerships, HIVE Digital Technologies is pushing forward in blockchain technology.
Impact of Technological Innovations on HIVE Performance
Technology has greatly influenced HIVE Blockchain, especially in how it builds blockchain and improves mining. Hive Digital Technologies stays ahead by getting the latest mining gear and investing in AI. These steps are key for strong progress.
HIVE plans to buy a data center in Boden, Sweden. They will spend up to $750,000 in cash and up to $1,500,000 in shares28. This center will have new ASIC servers to boost Bitcoin output, showing how technology boosts HIVE’s skills28.
HIVE’s stock price strategy looks at long- and medium-term levels. Their long-term target is between $1.50 and $26.2528. Their medium-term goal is between $2.20 and $7.1828. This careful planning shows how they adapt to tech changes in the market.
HIVE is also exploring new fields like AI, cloud services, and GPUs28. These new tech areas could diversify HIVE’s tech assets and improve its market position. Branching out is essential for pushing HIVE’s tech forward and attracting investors.
HIVE Blockchain’s stock sits mid-range in its 52-week span and below its 200-day average. This suggests investors are still figuring out its value28.
Future Predictions for Hive Stock
Looking ahead, experts share exciting predictions for Hive Blockchain. They offer us a look into the stock’s potential growth. This helps us see how well Hive might do in the next few years.
Expert Opinions
Market experts all agree Hive Blockchain is a “Buy”. Four Wall Street analysts back this up, showing high confidence29. It’s also got a Zacks Rank of 2-Buy22. They predict the share price might go up by 9.22%, hitting around $3.001. Experts from B. Riley, Canaccord Genuity, and HC Wainwright have raised their ratings recently29.
Predicted Market Trends
The future looks bright for Hive Blockchain, with price targets suggesting big growth. The average target is set at $6.50, going up to $9.00 at the highest22. By 2025, the price could soar to $13.23, a 380.92% jump1. Predictions for 2030 are even more astounding, with a potential price of $34,0241, highlighting Hive’s long-term value.
Recently, Hive Blockchain’s price was at $2.75, with over 2.5 million shares traded22. Short-term, it could see a 136.36% increase22. For Hive Digital Technologies, a near 82% growth is expected over the next year29. Stability in its after-market price suggests solid ground22.
Even with a current market mood of caution, the outlook remains upbeat1. Hive Blockchain’s profit-making and innovation make it a strong future player. This encourages investors to keep an eye on what’s next.
Conclusion
HIVE Blockchain uses green energy for its blockchain mining. This shows its strength and ability to change. Its growth is solid, thanks to smart moves and new tech, even with share price ups and downs. The company looks to a stable future with its ups and downs in trading and prices30.
Financial figures and performance measures tell us a lot about HIVE’s place in the crypto mining world. On September 3, 2024, its share price hit $3.1400, the highest. Then, on January 11, 2024, it dropped to $4.0600, the lowest. New data centers and partnerships are part of its strong growth plan30.
In short, HIVE Blockchain is making big moves in cryptocurrency mining. It catches the eye of those investing and watching the industry. HIVE is ready for what’s next with its smart plans and quick changes. Its earnings and growing equity show a bright future is coming31.