Canadian-Based HIVE Digital Is All Set To Soar The Sky With 263% BTC Surge

Prominent changes in the crypto community have occurred in the last few days. Trump restructured the SEC and brought in Mark Uyeda, who is eyeing to make the financial landscape more receptive and conducive for cryptocurrencies and other digital assets. Meanwhile, there have been major upheavals due to new tariff plans set by Trump in an attempt to discourage illegal immigration and narcotics smuggling. Therefore, February has been action-packed.  

Amidst all these developments, a Canadian crypto mining firm named HIVE Digital Technologies saw a sudden rise of 2.57% in their share price. This shift in pricing came right after the firm released its third-quarter result for 2024. The firm has seen decent growth throughout the last year and is still on an upward movement trajectory.  

A Meteoric Rise 

As per the Vancouver headquarters of HIVE Digital Technologies, the firm earned around $29.2 million in BTC mining and high-performance computing services. In this quarter, HIVE managed to mine 322 BTC. This boosted the firm’s crypto holding from 2483 to 2,805 BTC. The total valuation of the tokens is around $260 million. This is around a 263% increase from the previous year and is touted as a record milestone by HIVE’s executive chairman, Frank Holmes.  

On the other hand, the company has also made amazing headways in the HPC or High-Performance Computing services. The HPC vertical managed to hit an annualized run rate of around $10 million and a total of $2.5 million in revenue. This was a significant turnover from a $7 million loss the year before. 

Sources suggest that the company is currently looking for ways to bolster its market presence by broadening its base of operation. As a result, in January 2025, HIVE managed to strike a multi-million dollar deal and acquired a mining site for mining in Paraguay. As reported by Crypto.News, The site is called Yguazu and will be developed in phases. Therefore, this could increase stock prices and make HIVE a useful asset. Follow for more crypto news.