Hive Digital Technologies is transitioning from a crypto miner to a high-performance computing (HPC) services provider, aiming for $100 million annual revenue driven by advanced AI chips. Co-founders Frank Holmes and Aydin Kilic discussed this strategy in an exclusive interview. Identifying AI as a more profitable energy use than Bitcoin, Hive is scaling its HPC revenue, which reached a $20 million annual run rate in mid-2023, with future targets set for $100 million by 2026. Recently, Hive secured a site in Toronto, enhancing its capacity for HPC power. Despite these shifts, it maintains a positive gross margin and tight operational efficiency. While Hive's stock behaves like a Bitcoin proxy, analysts view it as undervalued, highlighting potential for growth following multiple buying recommendations. Additionally, Hive engages in the cryptocurrency market, maintaining a significant Bitcoin treasury while monitoring M&A activity in the sector, with increasing transactions noted in 2025. Their recent acquisition in Paraguay showcases their strategy to leverage low-cost energy for sustainable growth.

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