HIVE Digital Rallies As BUZZ AI Cloud Expansion Gains Traction
HIVE Blockchain Technologies Ltd (NASDAQ: HIVE) saw its stock rally by 13.73% due to optimism surrounding Bitcoin-related crypto mining growth and its expansion into AI cloud services. The company's new BUZZ AI Cloud GPU cluster in Paraguay is operational, offering high-performance computing to customers like Columbia University, signaling a strategic pivot beyond crypto mining. Despite negative profit margins, HIVE's strong revenue growth and clean balance sheet position it as a high-beta stock benefiting from AI infrastructure trends.
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