HIVE Digital Technologies eyes $100M in AI revenue as it expands in Paraguay - ICYMI

Core Insights - HIVE Digital Technologies is experiencing significant growth through its expansion into Paraguay and enhancement of its high-performance computing (HPC) capabilities [1][2] - The company has increased its electricity capacity from 100MW to over 300MW in Paraguay by acquiring Bitfarms' operations [1][2] - HIVE's revenue from AI and HPC has rapidly grown from $10 million to $20 million in just six months, with expectations to reach $100 million [1][2] Financial Performance - HIVE reported $115 million in revenue and $53 million in EBITDA for the past year [1][5] - The company anticipates revenue growth from $115 million to approximately $415 million in bitcoin mining, with projections to push total revenue to around $500 million when including AI [4][5] - Operating income is expected to expand to about $100 million, with EBITDA projected to reach around $200 million in the next year [5] Strategic Initiatives - The acquisition of a data center will transition operations from bitcoin mining to high-performance computing [3] - HIVE is focusing on scaling its operations without significantly increasing its workforce, aiming for profit margin expansion [5] - The company is investing in leadership for HPC and Paraguay operations to drive growth [8] Market Position and Future Outlook - HIVE is targeting 25 exahashes per second by year-end, indicating confidence in its competitive position post-halving [7][8] - The company views the AI boom as a significant opportunity for growth, drawing parallels with the rapid expansion of OpenAI [9]