HIVE Digital Technologies (TSXV:HIVE) zoomed more than 20% on Monday, October 6, to $7.68, near its 52-week high of $7.75 last reported in November 2024. The stock has surged 209% since July 1, and is now oversold at a Relative Strength Index of 79.
Two factors have been driving the stock’s growth.
HIVE increases production capacity
On October 5, HIVE released September production figures: It produced 267 Bitcoin, up 138% from a year ago. Driving the production was its capital spending to increase the average hashrate to 19.4 exahash per second (EH/s), with a peak of 21.7 EH/s. The company is on track to expand its capacity from six EH/s in February to 25 EH/s by November as the 100-megawatt phase-three Valenzuela facility in Paraguay starts full-scale operations. The increased capacity will help Hive produce more Bitcoins despite an increase in difficulty.
BUZZ high-performance computing
Hive has been diversifying its revenue streams by making its graphics processing units (GPU)-powered data centres available for high-performance computing. Its BUZZ HPC revenue has shown remarkable growth, with revenue surging 85% year over year in the June 2025 quarter and 100% in the March 2025 quarter.
Hive has partnered with Canadian artificial intelligence companies like BCE, Dell Canada, and VAST Data to secure enterprise clients.
Now is a good time to sell the stock while it hovers near its peak.
