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BUZZ

Bitcoin

<a href="https://www.thestreet.com/crypto/tag/bitcoin-miners" rel="noopener noreferrer nofollow">Bitcoin miners</a> have spent much of 2026 trying to show investors they are more than Bitcoin miners.&nbsp;
<a href="https://www.thestreet.com/crypto/tag/hive-digital-technologies" rel="noopener noreferrer nofollow">HIVE Digital Technologies</a> has been steering part of its business toward artificial intelligence computing, and one Wall Street firm remains firmly in its corner.
Canaccord Genuity analyst Joseph Vafi reiterated his Buy rating on HIVE on Oct. 19 and kept his $10 price target.&nbsp;
A price target is an analyst’s estimate of where a stock could trade, typically over the next 12 months. Vafi’s target is the highest among the firms tracking the company.
HIVE shares opened at $2.03 the day of the note. That put the implied upside at about 393%.
<a href="https://www.thestreet.com/crypto/technology/ethereum-co-founders-network-lost-half-its-users-in-six-month" rel="noopener noreferrer nofollow">Related: Ethereum co-founder's network lost half its users in six months, plans new language</a>
<h2 id="hive-s-buy-ratings-stack-up-across-the-street">Hive’s Buy ratings stack up across the Street</h2>
At the time of writing on Oct. 22, HIVE’s Nasdaq-listed shares were trading at $1.95.
At that price, Canaccord’s target implies upside of more than 400%.
HIVE closed at $4.90 on June 22, its highest close of the past six months, after touching $5.34 intraday that session.&nbsp;
Other <a href="https://www.tipranks.com/stocks/hive/forecast" rel="noopener noreferrer nofollow">analysts also see room to run</a>. Chardan Capital reiterated a Buy rating with a $7.50 target in September. H.C. Wainwright holds a $7 target. Rosenblatt Securities raised its target to $6 from $5.50 in August.
<h3 id="trending-on-thestreet-roundtable">Trending on TheStreet Roundtable:</h3>
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<h2 id="mining-output-meets-gpu-contracts">Mining output meets GPU contracts</h2>
Founded in 2017, HIVE mines Bitcoin. Mining means running specialized computers that validate transactions on the Bitcoin network in exchange for newly created coins.&nbsp;
The company runs clean energy-powered <a href="https://www.thestreet.com/crypto/tag/data-centers" rel="noopener noreferrer nofollow">data centers</a> in Canada, Sweden and Paraguay.
In its fiscal first quarter, <a href="https://www.hivedigitaltechnologies.com/news/hive-reports-q1-2027-revenue-of-791-million-contracted-gpu-cloud-arr-reaches-approximately-110-million/" rel="noopener noreferrer nofollow">which ended June 30</a>, HIVE mined 1,004 Bitcoin, up 147% from 406 a year earlier. Its average operational hashrate, a measure of the computing power devoted to mining, rose to 24.0 exahashes per second from 8.7 EH/s.
HIVE’s second engine is BUZZ HPC, a wholly owned subsidiary that rents out graphics processing units (GPUs), the chips that train and run <a href="https://www.thestreet.com/crypto/tag/artificial-intelligence" rel="noopener noreferrer nofollow">AI models</a>.&nbsp;
<a href="https://www.thestreet.com/crypto/tag/buzz-hpc" rel="noopener noreferrer nofollow">BUZZ HPC </a>has closed more than $600 million in GPU cloud contracts so far this year, according to the company.&nbsp;
That includes a <a href="https://www.thestreet.com/crypto/innovation/hive-stock-jumps-13-on-nvidia-linked-350m-ai-deal" rel="noopener noreferrer nofollow">$350 million, five-year AI cloud agreement</a> signed in August at its Merritt, British Columbia, facility.
HIVE says BUZZ HPC is pursuing more than <a href="https://www.hivedigitaltechnologies.com/news/hives-buzz-hpc-appoints-ai-and-hpc-veteran-mark-volk-as-senior-vice-president-revenue-hive-surpasses-1-million-in-average-daily-revenue/" rel="noopener noreferrer nofollow">$1 billion in potential GPU cloud contracts</a> beyond the deals already signed.&nbsp;
Since Aug. 21, the company’s combined average daily revenue has <a href="https://www.thestreet.com/crypto/markets/hive-crosses-1-million-in-daily-revenue-from-mining-and-ai-cloud" rel="noopener noreferrer nofollow">topped $1 million</a>, according to preliminary figures it released in September.&nbsp;
Bitcoin mining contributes roughly 12 coins a day, while GPU cloud services add about $100,000.
<a href="https://www.thestreet.com/crypto/policy/treasury-secretary-bessent-invokes-lincolns-1863-act-to-back-trumps-law" rel="noopener noreferrer nofollow">Related: Treasury Secretary Bessent invokes Lincoln's 1863 act to back Trump's law</a>
<h2 id="the-roundtable-100">The Roundtable 100</h2>
If you follow our market coverage, don’t miss the <a href="https://roundtable100.com/tab/rankings" rel="noopener noreferrer nofollow">Roundtable 100</a>. Updated every Friday, it's a power ranking of the 100 most investable tech stocks, including digital assets. Check out the latest <a href="https://roundtable100.com/" rel="noopener noreferrer nofollow">RTB 100</a> rankings at <a rel="noopener noreferrer nofollow">roundtable100.com</a>.

Canaccord sees 393% upside in HIVE with a $10 price target

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