HIVE stock pops 14% as crypto market heats up

• HIVE
• BTC-USD
• NVDA

Shares of <a href="https://www.thestreet.com/crypto/tag/hive-digital-technologies” rel=”nofollow noopener” target=”_blank”>HIVE Digital Technologies (Nasdaq: HIVE) surged nearly 14% on Sep. 3, climbing to $3.10 from a previous close of $2.72.

HIVE is a Canada-based <a href="https://www.thestreet.com/crypto/tag/bitcoin-mining” rel=”nofollow noopener” target=”_blank”>Bitcoin miner and data center operator that runs clean-energy-powered facilities across Canada, Sweden and Paraguay.

The rally came on a day when the broader crypto market moved sharply higher, with Bitcoin trading near $81,000. Crypto-linked stocks, particularly miners, tend to move in step with Bitcoin’s price because their core revenue, newly mined coins, is directly tied to what those coins are worth.

A $350 million AI deal

Beyond the crypto tailwind, HIVE has fresh company-specific momentum. On Aug. 17, its subsidiary BUZZ HPC announced a five-year, $350 million AI cloud services agreement with an unnamed investment-grade enterprise customer, the company said.

Under the deal, BUZZ HPC will deploy a dedicated cluster of 2,016 NVIDIA Blackwell Ultra GPUs at a facility in Merritt, British Columbia, powered entirely by renewable hydroelectric energy.

The contract adds approximately $70 million in annualized revenue, bringing BUZZ HPC’s total annualized revenue run rate to roughly $180 million, according to the company.

Trending on TheStreet Roundtable:

• Trump advisor lost 99% on his Bitcoin bet, now he’s fighting to rebuild

• Elon Musk’s 2025 Tesla pay could buy nearly 10% of all Bitcoin

Capital expenditures for the deployment are expected to total around $185 million, with the customer providing an upfront deposit of approximately 10% of the total contract value.

HIVE will retain ownership of the infrastructure after the contract ends, the company said. CEO Aydin Kilic said the deal accelerates BUZZ HPC’s push toward a year-end target of $200 million in annualized GPU cloud revenue.

Analysts stay bullish

Wall Street has responded favorably. All four analysts covering HIVE reiterated Buy ratings following the earnings and the BUZZ HPC deal.

Canaccord Genuity holds the highest target at $10, implying roughly 225% upside from recent levels. Rosenblatt Securities raised its target to $6 from $5.50, while Northland Securities and H.C. Wainwright reiterated targets of $6 and $7 respectively.

This story was originally published byTheStreeton Sep 3, 2026, where it first appeared in theMARKETSsection. Add TheStreet as aPreferred

Source: finance.yahoo.com