Hive - HIVE

HIVE Digital Technologies Stock (NASDAQ: HIVE)

HIVE Digital Technologies Stock (NASDAQ:HIVE), Trade Ideas

HIVE Blockchain Techs

HIVE Digital Technologies

Aerohive Networks

HIVE Digital Technologies Ltd formerly HIVE Blockchain Technologies Ltd is in the business of providing infrastructure solutions in the blockchain industry. It focuses on the mining and sale of digital currencies. Its geographical segments include Canada, Sweden, Iceland, Switzerland, and Bermuda, out of which the majority of the revenue comes from Bermuda.

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Bitcoin (CRYPTO: BTC), although recovering from Saturday’s lows, settled in the red on Monday, as it pulled back below the $63,500 mark.

Peter Schiff Challenges Bitcoin&#39;s $100K Prediction As Crypto-Linked Stocks Languish In Bear Zone: &#39;Sell Your Fool&#39;s Gold And Buy The Real Thing&#39;

Bitcoin mining Photo by Morrowind on Shutterstock

Technicals

BTBT

Bitcoin&#39;s rally to $73,000 has caught attention, but crypto mining giants HIVE and Bit Digital face a troubling sign: the Death Cross.

Bitcoin&#39;s Record Rally To $73K Overshadows Death Cross Signals In Two Crypto Mining Stocks

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Movers

CLSK

Core Scientific, Inc. - Class A Common Stock

CORZ

RIOT

Bitcoin‘s (CRYPTO: BTC) recent surge since late January has sparked concerns among cry

Gold Bull Peter Schiff Raises Red Flag For BTC Rally: &#39;If I Was Long Bitcoin, I Would Be Worried About This Divergence&#39;

HIVE Digital Technologies Ltd - Common Shares

HIVE Digital Technologies Ltd

HIVE - United States Dollar

Hiveterminal Token

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), although <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38256809/bitcoins-weekend-selloff-a-healthy-shakeout-not-a-market-crash-expert-says">recovering from Saturday&#8217;s lows,</a> settled in the red on Monday, as it pulled back below the $63,500 mark. Amid the volatility, economist and crypto skeptic Peter Schiff expressed skepticism regarding the apex crypto blasting off in line with predictions by some bulls.
What Happened: &#8220;If #BitcoinETFs are really going to send #Bitcoin to $100K or higher, why are all the Bitcoin-related equities in bear markets?&#8221; he said in a post on X, formerly Twitter. A financial asset is said to be in a bear market if it falls more than 20% from a recent high.
Schiff highlighted the down move in the following crypto-linked stocks.
<ul>
<li>Cryptocurrency exchange Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>): down 21% [from March 27]</li>
<li>Crypto-specific venture capital investment firm Galaxy Digital Holdings Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BRPHF#OTC">BRPHF</a>): down 26% [from March 26]</li>
<li>MicroStrategy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), which has substantial holdings of Bitcoin: down 33% [from March 27]</li>
<li>Valkyrie Bitcoin Miners ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WGMI#NASDAQ">WGMI</a>): down 41% [from Dec. 27]</li>
<li>Bitcoin miners Marathon Digital Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) (down 55% from Dec. end), Bitfarms Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BITF#NASDAQ">BITF</a>) (down 56% from Feb. 27) and HIVE Digital Technologies Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HIVE#NASDAQ">HIVE</a>) (down over 50% from Dec. 27)</li>
</ul>
As opposed to Schiff&#8217;s projection of the downtrend as a crypto-specific weakness, the broader market has been on a steep pullback since the start of April. The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), an exchange-traded fund that tracks the broader S&amp;P 500 Index, has shed about 3.6% amid worries concerning the unlikelihood of the Federal Reserve cutting rates amid stubbornly elevated inflation.
See Also: <a href="https://www.benzinga.com/money/top-10-cryptocurrencies">10 Best Cryptocurrencies </a>
Not A Safe Haven: Investors who bought the new <a href="https://www.benzinga.com/money/where-to-buy-spot-bitcoin-etfs">Bitcoin ETFs </a>now realize that they bought a bill of goods, Schiff said in a separate post. &#8220;They now know that #Bitcoin isn&#8217;t the safe haven, store of value it was promoted to be,&#8221; he said, adding that &#8220;surprised investors will likely sell, either to cut their losses or book gains and move on.&#8221;
In terms of gold, Bitcoin traded below 27 ounces of gold, Schiff noted. The apex crypto is now down over 27% since hitting a record high of 37 ounces of gold two and half years ago, he said. &#8220;Given all the hype about #Bitcoin and lack of coverage of #gold, few likely realize Bitcoin is in a stealth bear market when priced in real money,&#8221; he added.
Bitcoin ETF buyers, who think the king crypto is a &#8220;digital version&#8221; of gold should take note that SPDR&nbsp;Gold Shares&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), an ETF tracking the performance of physical gold or gold bullion, rose nearly 2% on Monday before settling at a record high, he said. On the other hand, Bitcoin ETFs were down about 5%, he added.
&#8220;Maybe your thesis is wrong and you should sell your fool&#8217;s gold and buy the real thing,&#8221; Schiff said.
At last check, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell over 4.50% to $63,483.18, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38213103/peter-schiff-predicts-bitcoin-etfs-will-lead-to-its-biggest-crash-ever">Peter Schiff Predicts Bitcoin ETFs Will Lead To Its &#8216;Biggest Crash Ever&#8217;</a>
Image by yuRomanovich on Shutterstock

Peter Schiff Challenges Bitcoin's $100K Prediction As Crypto-Linked Stocks Languish In Bear Zone: 'Sell Your Fool's Gold And Buy The Real Thing'

Canaccord Genuity analyst Joseph Vafi reiterates HIVE Digital Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HIVE#NASDAQ">HIVE</a>) with a Buy and maintains $6 price target.

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Canaccord Genuity Reiterates Buy on HIVE Digital Technologies, Maintains $6 Price Target

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IREN

Shares of crypto-related stocks are trading higher amid a rise in Bitcoin.

Shares of crypto-related stocks are trading lower amid a pullback in Bitcoin.

Bitcoin&#8217;s surge to a record $73,000 has grabbed headlines, but HIVE Digital Technologies Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HIVE#NASDAQ">HIVE</a>) and Bit Digital Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTBT#NASDAQ">BTBT</a>), two crypto mining giants, are facing a troubling sign: <a href="https://www.benzinga.com/topic/death-cross">the Death Cross</a>.
Related: <a href="https://www.benzinga.com//node/37660522">Bitcoin Tops $73,000; Toncoin, THORChain Among Top Gainers</a>
<h1 class="wp-block-heading">HIVE Digital: Adapting Amid Challenges</h1>
Despite hurdles such as Intel&#8217;s ASIC chip discontinuation, HIVE remains innovative, focusing on energy efficiency and <a href="https://newsdirect.com/news/hive-digital-technologies-on-green-bitcoin-mining-and-ai-pivot-crypto-round-up-176750124">AI to pivot </a>its business.
The company&#8217;s stock has seen fluctuations, with a 15.87% rise in the past year but a 30.68% drop year-to-date. 
CEO <a href="https://newsdirect.com/news/hive-digital-sees-146-increase-in-gross-operating-margins-as-company-releases-q3-earnings-report-955003273">Aydin Kilic announced</a> robust earnings for the third quarter, with revenue hitting $30.1 million, driven by mining 830 Bitcoin. The Gross Operating Margin stood at an impressive 38%, showcasing profitability.
However, a technical signal suggests caution when considering Hive stock.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="629" height="494" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/13094938/Screenshot-2024-03-13-at-5.54.32-PM.png" alt="" class="wp-image-250137" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/13094938/Screenshot-2024-03-13-at-5.54.32-PM.png 629w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/13094938/Screenshot-2024-03-13-at-5.54.32-PM-300x236.png 300w" sizes="(max-width: 629px) 100vw, 629px" /></figure>
The 50-day simple moving average (SMA) (orange line) crossed under the 200-day SMA (blue line) triggering a Death Cross. 
On Wall Street, traders often consider the Death Cross as a bearish signal indicating a potential downward trend or significant sell-off in the asset&#8217;s price. Investors and analysts widely regard it as a warning sign.
<h1 class="wp-block-heading">Bit Digital: Navigating Volatility</h1>
Bit Digital faced challenges amidst Bitcoin&#8217;s surge, with its stock price rising 91.45% in the past year but declining 47.04% year-to-date. 
In February 2024, the company <a href="https://www.benzinga.com//node/37495009">produced</a> 128.7 BTC, slightly down from the previous month. It actively engaged in digital asset staking and mining, with around 12,784 ETH staked as of Feb. 29, 2024.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="629" height="494" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/13095407/Screenshot-2024-03-13-at-5.54.49-PM.png" alt="" class="wp-image-250151" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/13095407/Screenshot-2024-03-13-at-5.54.49-PM.png 629w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/13095407/Screenshot-2024-03-13-at-5.54.49-PM-300x236.png 300w" sizes="(max-width: 629px) 100vw, 629px" /></figure>
Bit Digital stock&#8217;s moving averages triggered a Death Cross, spelling caution for investors considering Bit Digital stock amid the Bitcoin rally.
<h1 class="wp-block-heading">Death Cross Validates Peter Schiff&#8217;s Concerns</h1>
On March 5, economist Peter Schiff highlighted<a href="https://www.benzinga.com//node/37478508"> concerns</a> about the underperformance of Bitcoin mining stocks compared to Bitcoin&#8217;s rally.
The Death Cross seen in these two <a href="https://www.benzinga.com/crypto">crypto mining stocks</a> validates Schiff&#8217;s concerns.
The divergence raises questions about market corrections and Bitcoin&#8217;s sustainability. Amidst this, stakeholders in the crypto mining sector must remain adaptive, seeking growth amidst market dynamics.
Read Next: <a href="https://www.benzinga.com//node/37478508">Gold Bull Peter Schiff Raises Red Flag For BTC Rally: &#8216;If I Was Long Bitcoin, I Would Be Worried About This Divergence&#8217;</a>
Photo by Morrowind on Shutterstock

Bitcoin's Record Rally To $73K Overshadows Death Cross Signals In Two Crypto Mining Stocks

General

Shares of crypto-related stocks are trading higher after Bitcoin reached an all-time high.

Bitcoin&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/cryptocurrency/24/03/37468813/jim-cramer-has-an-answer-for-why-bitcoin-is-rallying-telling-investors-to-get-ready-for-wh" rel="noreferrer noopener">recent surge since late January</a>&nbsp;has sparked concerns among crypto investors about a potential correction. In this context, economist Peter Schiff highlighted a potential red flag on Monday: the underperformance of bitcoin mining stocks compared to the strong performance of Bitcoin itself.
What Happened: Schiff pointed out the ongoing weakness of bitcoin mining stocks. 
&#8220;They are getting killed even as Bitcoin is up big and other Bitcoin-related stocks are hitting record highs,&#8221; he said. &#8220;If I was long Bitcoin I would be worried about this divergence. It could be a sign of trouble ahead for Bitcoin itself.&#8221;
Several major bitcoin mining stocks, including&nbsp;Marathon Digital Holdings, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>),&nbsp;Riot Platforms, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>),&nbsp;HIVE Digital Technologies Ltd.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HIVE#NASDAQ">HIVE</a>) and&nbsp;Bit Digital, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTBT#NASDAQ">BTBT</a>),&nbsp;CleanSpark, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLSK#NASDAQ">CLSK</a>),&nbsp;all experienced premarket losses on Tuesday, following declines on Monday.&nbsp;
Even&nbsp;Core Scientific, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CORZ#NASDAQ">CORZ</a>), which bucked the downtrend on Monday, fell in premarket trading.
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/best-blockchain-penny-stocks" rel="noreferrer noopener">Best Blockchain Penny Stocks</a>
Schiff&#8217;s comments suggest he interprets the weakness in bitcoin miners as a potential leading indicator of a future correction in the price of Bitcoin.
Why It&#8217;s Important:&nbsp;After a sharp decline in January, bitcoin mining stocks saw a resurgence riding the wave of the Bitcoin rally. However, their performance has remained volatile.&nbsp;
In January, Bernstein analysts attributed the subdued investor interest in these stocks to a reluctance to use them as a proxy for Bitcoin, according to CoinDesk. At the time, the analysts recommended using the weakness as a buying opportunity, anticipating a rally in Bitcoin following the approval of a spot Bitcoin ETF.
In premarket trading, the&nbsp;Valkyrie Bitcoin Miners ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WGMI#NASDAQ">WGMI</a>) was down 5.29% at $16.10, while Bitcoin was up 2.25% at $66,691.74.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37475171/crypto-vs-ai-if-you-invested-1000-in-bitcoin-shiba-inu-and-super-micro-at-the-end-of-last-">Crypto Vs AI: If You Invested $1000 In Bitcoin, Shiba Inu And Super Micro At The End Of Last Year, Which Would&#8217;ve Given Better Returns?</a>

Gold Bull Peter Schiff Raises Red Flag For BTC Rally: 'If I Was Long Bitcoin, I Would Be Worried About This Divergence'

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) mining stocks including Marathon Digital Holdings Inc (NASDAQ: <a href="https://www.benzinga.com/stock/mara#NASDAQ">MARA</a>), Riot Platforms Inc (NASDAQ: <a href="https://www.benzinga.com/stock/riot#NASDAQ">RIOT</a>) and CleanSpark Inc (NASDAQ: <a href="https://www.benzinga.com/stock/clsk#NASDAQ">CLSK</a>) are rising Wednesday amid continued strength in the <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37358944/bitcoin-on-the-brink-should-you-buy-now-or-wait-for-a-possible-correction">price of Bitcoin</a>.
What To Know: Bitcoin continues to trend higher, driving strength in the broader crypto space and in crypto-related stocks. Bitcoin hit its highest level since November 2021 Wednesday morning when it crossed the $60,000 mark. Bitcoin appears to be benefiting from increased demand on the back of recently approved spot ETFs and anticipation of <a href="https://www.benzinga.com/topic/bitcoin-halving">April's halving event</a>.
Several Bitcoin mining stocks have outpaced Bitcoin in recent weeks, which may be partly due to better-than-expected earnings from the group. CleanSpark shares soared after the company reported strong earnings at the beginning of the month, and multiple other Bitcoin miners are due to report quarterly results in the coming weeks.
Some of the other Bitcoin mining stocks moving Wednesday include Hut 8 Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUT#NASDAQ">HUT</a>), HIVE Digital Technologies Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HIVE#NASDAQ">HIVE</a>), Bit Digital Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTBT#NASDAQ">BTBT</a>) and Bitfarms Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BITF#NASDAQ">BITF</a>). 
Bitcoin miners receive a reward for successfully mining Bitcoin transactions. The amount of rewards miners receive is set to be cut in half in April. Crypto markets have historically rallied in the months that follow a halving event.
Check This Out: <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37356947/benchmark-predicts-990-high-for-microstrategy-foresees-bitcoin-rally-to-125k">Benchmark Predicts $990 High For MicroStrategy, Foresees Bitcoin Rally To $125K</a>
$BTC Price Action: <a href="https://www.benzinga.com/quote/BTC-USD" target="_blank" rel="noreferrer noopener">Bitcoin</a> broke out of a trading range at the beginning of the week and has seen continued upward momentum since. It was up 5.67% over a 24-hour period at $60,382 at the time of writing, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Photo: Miloslav Hamřík from Pixabay.

What's Going On With Bitcoin Mining Stocks Today?

Shares of several Bitcoin (CRYPTO: <a href="https://www.benzinga.com/quote/btc/usd">BTC</a>) mining stocks continue to move higher on Tuesday alongside the price of Bitcoin. Here&#8217;s a look at <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37327715/bitcoin-on-the-threshold-of-all-time-high-only-1k-away-glassnode-founders-say-momentum-is-">what you need to know</a>.
What To Know: Bitcoin <a href="https://www.benzinga.com/topic/bitcoin-mining">miners</a> are getting a lift on Tuesday as the price of Bitcoin continues to trend higher. Bitcoin broke out of its recent trading range on Monday and has continued its surge on Tuesday moving above $57,000 and reaching its highest levels in more than two years.  
Crypto markets, and Bitcoin in particular, appear to be getting a boost from increased demand following recently approved spot ETFs and anticipation of April&#8217;s <a href="https://www.benzinga.com/topic/bitcoin-halving">halving event</a>.
Several Bitcoin mining stocks have outpaced Bitcoin in recent weeks, which may be partly due to better-than-expected earnings. CleanSpark shares soared after the company reported strong earnings at the beginning of the month, and multiple other Bitcoin miners are due to report quarterly results in the coming weeks. 
Here&#8217;s a look at some of Tuesday&#8217;s biggest movers:
<ul>
<li>CleanSpark Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLSK#NASDAQ">CLSK</a>) up 13.9% at $23.17</li>
</ul>
<ul>
<li>Marathon Digital Holdings Inc (NASDAQ: <a href="https://www.benzinga.com/stock/mara#NASDAQ">MARA</a>) up 10.2% at $32.31</li>
</ul>
<ul>
<li>Hut 8 Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUT#NASDAQ">HUT</a>) up 7.38% at $9.90</li>
</ul>
<ul>
<li>HIVE Digital Technologies Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HIVE#NASDAQ">HIVE</a>) up 6.79% at $4.56</li>
</ul>
<ul>
<li>Bit Digital Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTBT#NASDAQ">BTBT</a>) up 6.35% at $3.33</li>
</ul>
<ul>
<li>Riot Platforms Inc (NASDAQ: <a href="https://www.benzinga.com/stock/riot#NASDAQ">RIOT</a>) up 3.28% at $17.94</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37330367/veteran-trader-peter-brandt-says-bitcoin-could-reach-200k-by-2025-warns-against-las">Veteran Trader Peter Brandt Says Bitcoin Could Reach $200K By 2025, Warns Against &#8216;Laser Eye&#8217; Trend</a>
$BTC Price Action: <a href="https://www.benzinga.com/quote/BTC-USD">Bitcoin</a> was up 11.37% over a 24-hour period at $57,101 at the time of publication, according to <a href="http://pro.benzinga.com/">Benzinga Pro</a>.
Photo: Eivind Pedersen from Pixabay.

Bitcoin Mining Stocks Are Ripping Higher: What's Going On?

DGHI

MAWSON INFRSTRUCTURE GRP by Mawson Infrastructure Group Inc.

MIGI

WULF

Shares of crypto-related stocks are trading higher amid a rise in the price of Bitcoin.

HC Wainwright &amp; Co. analyst Mike Colonnese reiterates HIVE Digital Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HIVE#NASDAQ">HIVE</a>) with a Neutral and maintains $3.5 price target.

HC Wainwright & Co. Reiterates Neutral on HIVE Digital Technologies, Maintains $3.5 Price Target

Shares of several crypto-related stocks are trading higher amid strength in Bitcoin.

coin, hood, riot, mstr, mara, btdr, wulf, clsk, hut, hive

HOOD

Shares of several miners and crypto-related stocks are trading lower amid volatility in the sector after the SEC approved the listing and trading of spot Bitcoin ETFs.

Whales with a lot of money to spend have taken a noticeably bearish stance on HIVE Digital Technologies.
Looking at options history for HIVE Digital Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HIVE#NASDAQ">HIVE</a>) we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 25% of the investors opened trades with bullish expectations and 75% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $145,000 and 6, calls, for a total amount of $565,560.
<h3>What's The Price Target?</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $4.0 and $5.0 for HIVE Digital Technologies, spanning the last three months.
<h3>Volume &amp; Open Interest Development</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in HIVE Digital Technologies's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to HIVE Digital Technologies's substantial trades, within a strike price spectrum from $4.0 to $5.0 over the preceding 30 days.
<h3>HIVE Digital Technologies 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1704988079_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>HIVE</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$4.00</td>
<td>$153.0K</td>
<td>5.6K</td>
<td>600</td>
</tr>
<tr>
<td>HIVE</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$4.00</td>
<td>$120.0K</td>
<td>5.6K</td>
<td>1.9K</td>
</tr>
<tr>
<td>HIVE</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$4.00</td>
<td>$120.0K</td>
<td>5.6K</td>
<td>1.4K</td>
</tr>
<tr>
<td>HIVE</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/19/24</td>
<td>$5.00</td>
<td>$75.0K</td>
<td>6.1K</td>
<td>1.0K</td>
</tr>
<tr>
<td>HIVE</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$4.00</td>
<td>$72.0K</td>
<td>5.6K</td>
<td>900</td>
</tr>
</tbody>
</table>

<h3>About HIVE Digital Technologies</h3>
HIVE Digital Technologies Ltd formerly HIVE Blockchain Technologies Ltd is in the business of providing infrastructure solutions in the blockchain industry. It focuses on the mining and sale of digital currencies. Its geographical segments include Canada, Sweden, Iceland, Switzerland, and Bermuda, out of which the majority of the revenue comes from Bermuda.
Having examined the options trading patterns of HIVE Digital Technologies, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Present Market Standing of HIVE Digital Technologies</h3>
<ul>
<li>With a trading volume of 3,172,170, the price of HIVE is up by 6.58%, reaching $4.7.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 12 days from now.</li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for HIVE Digital Technologies with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Decoding HIVE Digital Technologies's Options Activity: What's the Big Picture?

U.S. stock futures were higher this morning, with the Nasdaq futures gaining around 50 points on Thursday.
Shares of Transphorm, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tgan#NASDAQ">TGAN</a>) rose sharply in today&rsquo;s pre-market trading. after Renesas Electronics announced plans to acquire the company for $5.10 per share in cash.
Transphorm shares surged 30.6% to $4.95 in pre-market trading.
Here are some big stocks recording gains in today&rsquo;s pre-market trading session.
<ul>
<li>Canaan Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/can#NASDAQ">CAN</a>) shares rose 14% to $2.44 in pre-market trading amid strength in the price of Bitcoin after U.S. regulators gave the green light to Bitcoin ETFs.</li>
<li>TeraWulf Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wulf#NASDAQ">WULF</a>) climbed 10.4% to $2.34 in pre-market trading after gaining over 4% on Wednesday.</li>
<li>Bitdeer Technologies Group (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/btdr#NASDAQ">BTDR</a>) shares gained 10.3% to $8.43 in pre-market trading amid strength in the price of Bitcoin.</li>
<li>Nukkleus Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nukk#NASDAQ">NUKK</a>) gained 10.1% to $2.30 in pre-market trading after falling around 15% on Wednesday.</li>
<li>Bitfarms Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bitf#NASDAQ">BITF</a>) rose 8.3% to $3.25 in pre-market trading amid strength in Bitcoin.</li>
<li>Bit Digital, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/btbt#NASDAQ">BTBT</a>) rose 8.1% to $3.74 in pre-market trading amid strength in Bitcoin.</li>
<li>Hut 8 Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hut#NASDAQ">HUT</a>) gained 7% to $12.96 in pre-market trading. The company on Monday received court approval for its previously announced stalking horse bid transaction.</li>
<li>iRobot Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/irbt#NASDAQ">IRBT</a>) gained 5.6% to $31.42 in pre-market trading.</li>
<li>iRobot shares fell around 20% on Wednesday following a report suggesting Amazon has skipped a settlement offer with the European Commission for its deal with the company.</li>
<li>HIVE Digital Technologies Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hive#NASDAQ">HIVE</a>) rose 5.4% to $4.65 in pre-market trading after gaining 5% on Wednesday.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/01/36588893/unitedhealth-gears-up-for-q4-print-heres-a-look-at-recent-price-target-changes-by-the-most-accurate"> UnitedHealth Gears Up For Q4 Print; Here&#39;s A Look At Recent Price Target Changes By The Most Accurate Analysts</a>
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a>

Penny Stocks

Small Cap

Pre-Market Outlook

IRBT

NUKK

TGAN

Transphorm, Canaan And Other Big Stocks Moving Higher In Thursday's Pre-Market Session

HIVE Digital Technologies HODL Position At The End Of December 2023 Was 1,707 BTC, Which Is 80 BTC Higher Than The Prior Month

HIVE Digital Technologies Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hive#NASDAQ">HIVE</a>) shares are trading higher. The company on Thursday provided an <a href="https://www.benzinga.com/quote/HIVE">operations update for December</a>.
What Happened: Hive Digital <a href="https://hivedigitaltechnologies.com/news/hive-digital-increases-hodl-position-and-provides-december-2023-production-and-corporate-update/">said </a>it produced 282.8 Bitcoin&nbsp;in December&nbsp;as it&nbsp;maintained&nbsp;an average hashrate of&nbsp;3.95 EH/s during the month. The company produced an average of 9.1 bitcoin per day, representing approximately 1% of the global network.&nbsp;As of the end of December, Hive had&nbsp;4.08 EH/s of mining capacity.
Hive noted that&nbsp;its&nbsp;New Brunswick facility is currently operating at 1.8 EH/s while undergoing final maintenance. The facility is expected to return to&nbsp;full operation&nbsp;this month.&nbsp;
Hive also appointed Luke Rossy to chief operating officer and Mario Sergi to chief information officer.&nbsp;
&quot;I have worked very closely with Luke in this time, where our goal has been for HIVE to lead as the most efficient Bitcoin miner. Coming from a strong foundation of code implementations in novel applications in proof-of-work algorithms, additionally, Luke has represented HIVE globally at Bitcoin industry conferences, and has developed a mastery of Bitcoin mining systems and analytics,&quot; said&nbsp;Aydin Kilic, president and CEO of Hive.
Hive shares may also be getting a boost from an increase in the price of bitcoin.&nbsp;At the time of publication, Bitcoin was up 3.82% over a 24-hour period at $44,073. Bitcoin is up more than&nbsp;155% over a one-year period.
Check This Out:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36484742/this-whale-scored-78m-profit-by-depositing-3-1k-btc-into-binance-ahead-of-bitcoins-dive-to">This Whale Scored $78M Profit By Depositing 3.1K BTC Into Binance Ahead Of Bitcoin&#39;s Dive To $40K</a>
HIVE Price Action: <a href="https://www.benzinga.com/quote/HIVE">Hive shares</a> were up 6.98% at $4.60 at the time of writing, according to&nbsp;<a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo:&nbsp;<a href="https://pixabay.com/users/eivindpedersen-5084872/" target="_blank">EivindPedersen</a>&nbsp;from Pixabay.

What's Up With Shares Of Bitcoin Miner Hive Digital?

Appointment of COO and CIO
HIVE is pleased to announce the appointment of Luke Rossy to Chief Operating Officer ("COO") and Mario Sergi to Chief Information Officer ("CIO").
Frank Holmes the Executive Chairman of HIVE said, "Luke Rossy has been with HIVE since we acquired our New Brunswick data center from GPU One almost 3 years ago and we are proud to promote him as our Chief Operating Officer. In this time, he has demonstrated a strong work ethic, a curiosity to learn with improved critical thinking and an initiative to learn and tackle new challenges. Luke has taken on leadership roles to manage and support our global team and ASIC mining operations." Aydin Kilic, HIVE's President and CEO said "I have worked very closely with Luke in this time, where our goal has been for HIVE to lead as the most efficient Bitcoin miner. Coming from a strong foundation of code implementations in novel applications in proof-of-work algorithms, additionally, Luke has represented HIVE globally at Bitcoin industry conferences, and has developed a mastery of Bitcoin mining systems and analytics."

Management

HIVE Announces The Appointment Of Luke Rossy To Chief Operating Officer

HIVE DIGITAL INCREASES HODL POSITION AND PROVIDES DECEMBER 2023 PRODUCTION AND CORPORATE UPDATE
This news release constitutes a "designated news release" for the purposes of the Company's amended and restated prospectus supplement dated August 17, 2023, to its short form base shelf prospectus dated May 1, 2023.
Vancouver, Canada – HIVE Digital Technologies Ltd. (TSX.V: HIVE) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HIVE#NASDAQ">HIVE</a>) (FSE: YO0.F) (the "Company" or "HIVE") is pleased to announce the unaudited production figures from the Company's global Bitcoin operations for the month of December 2023, with 282.8 Bitcoin produced. The Company has maintained over 3.95 Exahash ("EH/s") of Bitcoin mining capacity on average for December 2023, including ASIC and GPU BTC hashrate (all amounts in US dollars, unless otherwise indicated).
Summary Overview:
· HIVE produced 282.8 Bitcoin in the month of December 2023, from ASIC and GPU mining operations, representing an average of 71.6 Bitcoin Per Exahash, with an average hashrate of 3.95 EH/s for the month of December;
· HIVE produced an average of 9.1 BTC per day in December, which amounts to approximately 1% of the global network;
· HIVE ended the month of December with 4.08 EH/s of mining capacity, including ASIC and GPU BTC hashrate, consistent with the prior month.
The Company's HODL position at the end of December 2023 was 1,707 BTC, which is 80 BTC higher than the prior month.
Appointment of COO and CIO
HIVE is pleased to announce the appointment of Luke Rossy to Chief Operating Officer ("COO") and Mario Sergi to Chief Information Officer ("CIO").
Frank Holmes the Executive Chairman of HIVE said, "Luke Rossy has been with HIVE since we acquired our New Brunswick data center from GPU One almost 3 years ago and we are proud to promote him as our Chief Operating Officer. In this time, he has demonstrated a strong work ethic, a curiosity to learn with improved critical thinking and an initiative to learn and tackle new challenges. Luke has taken on leadership roles to manage and support our global team and ASIC mining operations." Aydin Kilic, HIVE's President and CEO said "I have worked very closely with Luke in this time, where our goal has been for HIVE to lead as the most efficient Bitcoin miner. Coming from a strong foundation of code implementations in novel applications in proof-of-work algorithms, additionally, Luke has represented HIVE globally at Bitcoin industry conferences, and has developed a mastery of Bitcoin mining systems and analytics."
December 2023 Production Figures
"Mario Sergi, who joined HIVE in August 2021, brings a wealth of experience to HIVE as well in his current role as Operations and Infrastructure Manager," Mr. Kilic added. "Since joining HIVE, he has expanded his horizons immensely, implementing new systems and network architectures to bolster the company's GPU business operations out of Tier 3 data centers, laying the foundation for our AI infrastructure. Mario has been diligent, resourceful, and has exhibited the discipline and tactical skill to oversee the Company's information systems globally."
The Company's total Bitcoin production in December 2023 was:
<ul>
<li>273.5 BTC produced from ASICs from an average hashrate of 3.82 EH/s from ASICs in December;</li>
<li>8.8 BTC produced per day on average from ASICs, and 71.6 BTC/EH from ASICs in December;</li>
<li>4.08 EH/s of BTC month-end hashrate as of December 31, comprised of 4.05 EH/s of ASIC BTC hashrate and 0.03 EH/s of GPU BTC hashrate;</li>
<li>Consistent month-over-month end BTC ASIC hashrate (November 30 month-end was 4.03 EH/s);</li>
<li>Monthly average of 3.95 EH/s, comprised of an average of 3.82 EH/s of ASIC mining capacity and an average of 130 PH/s of Bitcoin GPU mining capacity during the month of December;</li>
<li>This is a 4.6% month-over-month decrease in BTC average hashrate from ASICs and GPUs combined (November average BTC hashrate was 4.14 EH/s).</li>
</ul>
New Brunswick Facility Update
The New Brunswick facility is currently operating at 1.8 EH/s, while the substation is undergoing final maintenance. The full potential for the facility, which is expected to resume operations in January 2024, should return to 2 EH/s. The Company notes that prior to maintenance, the peak operating total global hashrate was 4.3 EH/s.
Bitcoin Global Network Mining Difficulty Is Volatile
Network difficulty factors continue to be a significant variable contributing to the Company's gross profit margins. The Bitcoin network difficulty was 68 T as of December 1, and increased to an all-time high of 72 T as of December 31. Accordingly, Bitcoin mining difficulty ended the month of December about 6% higher than the beginning of the month.
The Bitcoin network difficulty is a publicly available statistic, which reflects the total number of Bitcoin miners online. This is an important metric in analyzing a company's gross profit margins, along with the number of Bitcoin produced. This data is publicly available on many websites, including <a href="https://www.blockchain.com/explorer/charts/difficulty">Blockchain.com.</a>
As more Bitcoin is mined (difficulty increases), the daily Bitcoin block reward (which presently is fixed at 900 Bitcoin per day), gets split amongst more miners; thus, each miner receives a smaller portion of the block reward. Conversely, as Bitcoin prices fall, many miners may lose money and power down, thus taking their hashrate off the network, causing network difficulty to decrease.
Those miners with the lowest costs of production, by virtue of having more efficient machines and/or lower energy costs, are able to continue production during these volatile cycles. Not all miners will continuously mine during the month. As a result, some miners will produce less Bitcoin than expected, relative to their advertised hashrate. For the foregoing reasons, HIVE will self-curtail part of its operations if the unhedged spot energy prices are uneconomical, thereby leaving part of its total gross hashrate unutilized.
All Bitcoin miners are striving to use the most efficient Bitcoin ASIC chips, and HIVE is happy that it has been able to upgrade its global fleet during this crypto market downturn.

Reported Earlier, HIVE Digital Increases HODL Position And Provides December 2023 Production And Corporate Update; 282.8 Bitcoin Produced In December (Produced An Average Of 9.1 BTC Per Day); Ended The Month Of December With 4.08 EH/s Of Mining Capacity

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
It&rsquo;s tempting to chase after the next big biotech breakthrough or speculate on businesses burning cash like there&rsquo;s no tomorrow. However, that&rsquo;s usually a fast track to disappointment &ndash; and a much lighter wallet.



Instead, I believe the road to turning $50,000 into a cool $1 million is paved with high-quality, financially sound businesses. Betting on companies with bright futures, growing revenues, and a clear line of sight to profitability provides exposure to businesses that have what it takes to keep growing and seeing their valuations climb over time.



If a company executes well quarter after quarter, its stock price almost has to head higher eventually. Notably, there are still plenty of great stocks that haven&rsquo;t fully recovered from the post-Covid cooldown. They&rsquo;ve been treading water even as the broader market has marched higher. Once these companies see their financials start to perk up again, these coiled springs could deliver significant gains.



<h2>Data Storage Corp. (DTST)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/02/big-data-business-300x169.png" alt="An image of a person typing at a kayboard with data overlaid, hand pointing toward data"><div>Source: everything possible/Shutterstock</div></div>Data Storage Corp. (NASDAQ:<a href="https://investorplace.com/stock-quotes/dtst-stock-quote/">DTST</a>) has more than doubled since I first wrote about it, and it&rsquo;s on its way to delivering multi-bagger returns. I&rsquo;ll admit, I&rsquo;m a bit nervous about this particular pick. That&rsquo;s because the company is about to release their Q4 results just a day after I&rsquo;m writing this. In fact, DTST stock recently declined 15% after the company said they broke even in Q4, which wasn&rsquo;t satisfactory. But regardless, I believe this company has the ability to deliver significant long-term gains.



Data storage companies have been delivering stellar growth lately, and many of the large-cap players in this realm are seeing their cloud computing and data segments driving the lion&rsquo;s share of their revenue growth. That&rsquo;s why I think this startup can grab a lot of attention in the coming years, as it lands contracts with the big boys.



I&rsquo;ve covered this stock many times already, but just as a refresher, Data Storage generated 2 cents in earnings per share and <a href="https://www.google.com/finance/quote/DTST:NASDAQ">$6 million in revenue</a>, up 35% year-over-year in Q3 2023. That sales growth is much better than some other growth companies trading at 10-times forward sales or higher right now. Not only is the growth better with a small-cap company like this, but the addressable market for data storage is massive compared to the company&rsquo;s tiny size.



Personally, I see incredible potential here. The demand for secure, reliable data storage is only going to increase as businesses generate more data than ever before. And with Data Storage&rsquo;s ability to be nimble due to its size and focused expertise, this company could be perfectly-positioned to capitalize on that growing demand. Of course, there are risks with any small-cap investment, but the potential rewards here are hard to ignore.



<h2>Ammo Inc. (POWW)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/guns1600-300x169.jpg" alt="8 Small-Cap Stocks to Buy for Big-Time Growth Potential"><div>Source: Shutterstock</div></div>This is another company I&rsquo;ve covered extensively, and is one that&rsquo;s finally looking to break out of its sideways trading pattern. Catalysts are aligning in favor of Ammo Inc. (NASDAQ:<a href="https://investorplace.com/stock-quotes/poww-stock-quote/">POWW</a>). The first and most obvious catalyst to focus on is the increasing demand for ammunition. The war in Eastern Europe has drained the ammunition stockpiles of many countries, and it will take years to restock. That&rsquo;s why I believe POWW stock is primed to perform well in the long-run as that backlog grows.



Now, the company&rsquo;s <a href="https://www.google.com/finance/quote/POWW:NASDAQ">revenue has slumped</a> recently, and Ammo Inc. did report a small 1-cent earrings per share miss. But that doesn&rsquo;t mean the business doesn&rsquo;t have legs to run higher. I&rsquo;m bullish on the company&rsquo;s GunBroker platform, which is still seeing sales growth. This platform has a huge moat, since most companies don&rsquo;t want to engage in selling arms to civilians.



Ammo Inc. is also expecting a return to profitability next year, and analysts estimate revenue will <a href="https://seekingalpha.com/symbol/POWW/earnings/estimates">surge 10%, reaching $158 million</a>. In my view, that&rsquo;s just the beginning of the growth path higher. With ammunition supplies remaining tight globally and consumer demand still robust in the U.S., Ammo Inc. could be positioned for an extended period of above-average growth.



<h2>HIVE Digital (HIVE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/03/bitcoin1600-300x169.png" alt="Day trader buying selling crypto currency bitcoin concept. Stocks to buy as the crypto frenzy continues"><div>Source: Creativan / Shutterstock.com</div></div>HIVE Digital (NASDAQ:<a href="https://investorplace.com/stock-quotes/hive-stock-quote/">HIVE</a>) hasn&rsquo;t been the best bet in recent months, I&rsquo;ll admit. Crypto mining companies have performed exceptionally well in previous cycles, often rising neck-and-neck with Bitcoin. They have even delivered higher returns during bull markets. But most of these crypto mining companies have been trading sideways lately, and some have even declined. That&rsquo;s despite Bitcoin (<a href="https://investorplace.com/cryptocurrency/btc-usd/">BTC-USD</a>) continuing to climb higher, reaching new highs.



Why is that? I believe it&rsquo;s due to Bitcoin&rsquo;s recent rally taking place before the upcoming halving event. This bull run was mainly triggered by a massive influx of money into Bitcoin through its recently-approved spot ETFs. But that doesn&rsquo;t mean Bitcoin mining stocks are a bad bet going forward.



I believe crypto mining stocks will deliver multi-bagger returns once the halving happens, as these companies prove they can still deliver profits and generate revenue. Mining companies have been aggressively expanding their mining fleets, and Hive is no exception. Impressively, the company has expanded mining capacity by 10% from January to February 2024 and <a href="https://hivedigitaltechnologies.com/news/hive-digital-announces-bitcoin-production-and-hodl-growth-in-february-2024-to-2131-bitcoins/">mined 200 Bitcoins</a> in February alone. Hive now expects to be running at a 5.3 to 5.5 EH/s rate by June 2024.



So while the short-term outlook for this company has been rocky, I believe Hive&rsquo;s mining fleet expansion will help the company bear the brunt of the halving&rsquo;s impact. And let&rsquo;s not forget, Hive still holds 2,131 BTC on their balance sheet, which means the company will likely benefit much more from the halving than it loses in revenue.



On the date of publication, Omor Ibne Ehsan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines.</a>
<div>Omor Ibne Ehsan is a writer at InvestorPlace. He is a self-taught investor with a focus on growth and cyclical stocks that have strong fundamentals, value, and long-term potential. He also has an interest in high-risk, high-reward investments such as cryptocurrencies and penny stocks. You can follow him on <a href="https://www.linkedin.com/in/omor-ibne-ehsan-56068022b/">LinkedIn</a>.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/03/how-to-turn-50000-into-1-million-with-these-3-top-stocks/">How to Turn $50,000 into $1 Million With These 3 Top Stocks</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

How to Turn $50,000 into $1 Million With These 3 Top Stocks

Bitcoin drops 6.4% pulling crypto-related stocks down

Biggest stock movers today: TSLA, PVH, GE, GOEV, and more

Biggest stock movers today: TSLA, PVH, GE, crypto stocks, and more

Hive Blockchain Technologies Ltd (TSE:HIVE) has released an update. HIVE Digital Technologies Ltd., a leader in digital and AI technologies, announ...

HIVE Digital Engages in Top Industry Events

HIVE Digital mines 224 bitcoin in March

Hive Blockchain Technologies Ltd (TSE:HIVE) has released an update. HIVE Digital Technologies Ltd. has reported a significant growth in its Bitcoin...

HIVE Digital Boosts Bitcoin Holdings and HODL Strategy

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
The 2024 presidential election is shaping up to be just as exciting and contentious the 2020 contest. That&rsquo;s because it looks to be a rematch between President Biden and former President Trump. There&rsquo;s a wildcard thrown in this time with Robert Kennedy Jr. running an independent campaign that could pull voters from both sides.



The stock market went on a rollercoaster ride four years ago. A decade-long bull market was brought up short by the pandemic. The S&amp;P 500 lost one-third of its value in a matter of weeks only to make a U-turn and soar higher once more. It wasn&rsquo;t uncommon to see stocks soar by 1,000% or more.



These are the seven top 2020 stocks that didn&rsquo;t end up crashing and becoming <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a>. Can they repeat their prized performance from four years ago? Let&rsquo;s find out!



<h2>Novavax (NVAX)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/nvax_novavax1600-300x169.png" alt="Novavax (NVAX) research laboratory logotype enlarged with a magnifying glass.This laboratory has developed a vaccine against the covid-19 virus. NVAX price predictions."><div>Source: pixinoo / Shutterstock.com</div></div>The pandemic, of course, was the defining moment of 2020. Not only for the devastation it caused in our lives but also for the opportunity it created for companies to rise to the challenge. Novavax (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvax-stock-quote/">NVAX</a>) shocked everyone when the Operation Warp Speed committee <a href="https://ir.novavax.com/press-releases/2020-07-07-Novavax-Announces-1-6-Billion-Funding-from-Operation-Warp-Speed">granted it $1.6 billion</a> in federal funds to develop a Covid-19 vaccine. It was more than any other drugmaker was given at the time. Its vaccine candidate had the best potential in testing ahead of even Pfizer (NYSE:<a href="https://investorplace.com/stock-quotes/pfe-stock-quote/">PFE</a>) and Moderna (NASDAQ:<a href="https://investorplace.com/stock-quotes/mrna-stock-quote/">MRNA</a>). It hadn&rsquo;t undergone human testing at the time but preliminary results in primates looked promising.



As we all know, both Pfizer (and its partner BioNTech (NASDAQ:<a href="https://investorplace.com/stock-quotes/bntx-stock-quote/">BNTX</a>) and Moderna went to market first. They were given emergency use authorization (EUA) for their experimental vaccines and shielded from liability for any damages for harm caused by them. Today, myocarditis &mdash; a potentially deadly inflammation of the heart muscle &mdash; is more common in <a href="https://bmjopen.bmj.com/content/13/6/e065687">people who received Covid vaccines</a> than those who are unvaccinated.



Novavax, though, would be late in releasing its own vaccine. NVAX stock soared 2,695% in 2020, and tripled again in early 2021, ultimately plummeting back to earth. From it&rsquo;s all-time high of $320 per share, Novavax trades at around $4.40 per share today. While it has a combination Covid and flu vaccine in development, <a href="https://investorplace.com/2024/01/time-to-buy-these-3-stocks-that-just-hit-a-52-week-low/">there seems little chance</a> it will repeat as a top performer this year.



<h2>HIVE Digital Technologies (HIVE) </h2>



<div><img width="300" height="165" src="https://investorplace.com/wp-content/uploads/2018/04/datacentermsn-300x165.jpg" alt="Image of a well-lit data center"><div>Source: Shutterstock</div></div>Back then, HIVE Digital Technologies (NASDAQ:<a href="https://investorplace.com/stock-quotes/hive-stock-quote/">HIVE</a>) was known as HIVE Blockchain Technologies. It changed its name last year to better reflect its new <a href="https://finance.yahoo.com/news/hive-blockchain-announces-rebranding-name-050000554.html">focus on high-performance computing data centers</a>. It was another stock that generated enormous returns in 2020 only to go on and soar even higher the following year.



At the time, though, it was all about bitcoin mining as Bitcoin (<a href="https://investorplace.com/cryptocurrency/btc-usd/">BTC-USD</a>) was blowing through the $20,000 price threshold. Mining stocks were seen as an attractive way for investors to get exposure to Bitcoin&rsquo;s price in a relatively risk-free way because they were seen as cryptocurrency infrastructure stocks.



Bitcoin mining isn&rsquo;t anywhere near as popular today. It&rsquo;s why HIVE Digital is no longer HIVE Blockchain. Particularly as the <a href="https://www.reuters.com/technology/what-is-bitcoins-halving-does-it-matter-2024-03-13/#:~:text=Miners%20use%20computing%20power%20to,the%20production%20of%20new%20bitcoins.">Bitcoin halving event </a>will make mining even less profitable than it is now because it will slow the production of new Bitcoin.



HIVE Digital soared 2,507% in 2020 and doubled again in February, hitting almost $21 a share. It has since lost 88% of its value and trades at around $3.30 per share. No amount of rebranding will turn around its fortunes this year.



<h2>Blink Charging (BLNK)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/04/blnk-stock-300x169.jpg" alt="a blink charging station, BLNK stock"><div>Source: David Tonelson/Shutterstock.com</div></div>Make it three in a row with Blink Charging (NASDAQ:<a href="https://investorplace.com/stock-quotes/blnk-stock-quote/">BLNK</a>), which began to ramp higher in 2020 only to reach its apex in 2021. Afterward, it would begin a long slog lower.



The electric vehicle (EV) charging equipment provider as the EV industry was hot and the need for charging stations was strong. Blink Charging ended 2020 with over <a href="https://www.sec.gov/Archives/edgar/data/1429764/000149315221007550/form10-k.htm#ps_010">16,600 charging stations installed</a>, of which 7,062 were on the Blink Network. That was a 12% increase over the year before.



Revenue had tripled to $6.2 million while gross profits rose four-fold to $1.5 million giving it 24% gross margins. Blink was still a loss-generating business, and net losses had almost doubled to $17.8 million, but it was seen as well on the path to a bright future. The stock rocketed 2,186% higher that year.



Today the EV industry is in a different place. While still expanding, demand is rapidly shrinking globally and EV makers are resorting to price-cutting to lure buyers in. It&rsquo;s not a healthy situation and one that has <a href="https://investorplace.com/2024/01/reality-check-ai-predicts-these-3-stocks-can-10x-in-5-years-heres-why-they-wont/">cooled the momentum</a> for charging station stocks. Blink Charging sunk from over $60 a stub to below $3 a share.



<h2>Vaxart (VXRT)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/05/vaxart_vxrt_1600_d-300x169.jpg" alt="VXRT stock: A photo of a person wearing gloves holding a bottle of pills."><div>Source: Photo courtesy of Vaxart, Inc.</div></div>Okay, make it four companies. Biotech Vaxart (NASDAQ:<a href="https://investorplace.com/stock-quotes/vxrt-stock-quote/">VXRT</a>) has seen several massive spikes in its stock. It started 2020 as a tiny penny stock but the pandemic help it burst onto the scene. Jumping onto the vaccine bandwagon, Vaxart announced it was pursuing an oral vaccine for Covid and the stock made its way from 34 cents per share all the way up to $17 a share. And just as quickly plummeted back down to around $1 per share. It closed out the year under $6 a share making for a nice 1,600% gain.



It would be a repeat performance in 2021 when it rocketed to over $23 a share after announcing <a href="https://investors.vaxart.com/news-releases/news-release-details/vaxart-announces-positive-preliminary-data-phase-1-clinical">positive phase 1 results</a> from its investigational VXA-CoV2-1 vaccine. At this point though, Vaxart was well behind the pack in developing a Covid vaccine. Both Pfizer and Moderna had released their vaccines two months prior. Vaxart&rsquo;s therapy is still in Phase II testing.&nbsp;



With that said, as Vaxart notes, &ldquo;it is now the only company to have taken an oral tablet COVID-19 to a Phase II clinical trial.&rdquo; Pfizer and Moderna essentially conducted an experiment on the entire global population. They only operated under the EUA and have <a href="https://www.latimes.com/science/story/2020-12-12/why-fda-didnt-approve-pfizer-covid-19-vaccine-eua">never gotten traditional FDA approval</a> for their shots. If Vaxart&rsquo;s ever makes it through to the end it may be the first to achieve a positive result through rigorous testing.



<h2>Riot Platforms (RIOT)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/07/riot1600-300x169.png" alt="In this photo illustration, the Riot Platforms (RIOT) logo is displayed on a smartphone screen."><div>Source: rafapress / Shutterstock.com</div></div>It wasn&rsquo;t just HIVE Blockchain undergoing a reimagining after the Bitcoin mining mania wore off. Riot Blockchain <a href="https://www.globenewswire.com/en/news-release/2023/01/03/2582242/0/en/Riot-Blockchain-Inc-Announces-Corporate-Rebranding-to-Riot-Platforms-Inc.html">also changed its name</a> last year, becoming Riot Platforms (NASDAQ:<a href="https://investorplace.com/stock-quotes/riot-stock-quote/">RIOT</a>). It&rsquo;s purpose was to reflect its growth strategy and the diversified nature of its operations, though Riot&rsquo;s goal is still to be &ldquo;the world&rsquo;s leading Bitcoin-driven infrastructure platform.&rdquo;



Shrinking profit margins were turning investors off to mining operations, so rebranding as &ldquo;digital&rdquo; or becoming a &ldquo;platform&rdquo; took the sting away from the association. Applied Blockchain also transformed into Applied Digital (NASDAQ:<a href="https://investorplace.com/stock-quotes/apld-stock-quote/">APLD</a>) for much the same reasons. <a href="https://www.theblock.co/post/198907/bitcoin-miner-riot-platforms-drops-blockchain-in-rebrand">Many others did so as well</a>.



While it was still a mining operation though, Riot rode the intense investor enthusiasm to a 1,390% gain in 2020. It would reach its all-time high just two weeks later, cresting at $29 before losing two-thirds of its value. Today Riot Platforms stock trades at $10 a stub as no amount of rebranding can turn the business around.



<h2>Cardiff Oncology (CRDF)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/08/srne_doctor_oncology_1600-300x169.jpg" alt="A doctor points at an abstract representation of various aspects of oncology. SHPH stock"><div>Source: Oleg Ivanov IL / Shutterstock.com</div></div>Biotech Cardiff Oncology (NASDAQ:<a href="https://investorplace.com/stock-quotes/crdf-stock-quote/">CRDF</a>) didn&rsquo;t rise to glory in 2020 on the back of the Covid pandemic. Rather, as its name implies, it had bigger fish to fry in cancer. Its lead molecule, onvansertib, was a unique opportunity because it was targeting cancer caused by the KRAS mutation. That is an <a href="https://www.lung.org/lung-health-diseases/lung-disease-lookup/lung-cancer/symptoms-diagnosis/biomarker-testing/kras">error in a normal cell protein</a> that signals the body to produce more cells, which turns into cancer.&nbsp;



Although there are other drug developers focused on the KRAS mutation, including Amgen (NASDAQ:<a href="https://investorplace.com/stock-quotes/amgn-stock-quote/">AMGN</a>), this was Cardiff&rsquo;s only drug and if successful, it would have been a multi-billion opportunity. Shares soared 1,328% in 2020 on that potential.



CRDF stock ran higher again in 2021 as well after some promising, though mixed results in early phase testing caused the stock to stumble. It would go on to fall further in 2022 as additional results also showed promise but underwhelmed the market. But it&rsquo;s off to the races again in 2024!



Cardiff Oncology stock is up 300% so far this year and is nearly 400% higher over the past six months. Virtually all of the gains came in just the last months after the drug developer <a href="https://www.globenewswire.com/news-release/2024/02/29/2838410/0/en/Cardiff-Oncology-Provides-Clinical-Update-on-Phase-2-Randomized-Second-line-ONSEMBLE-Trial-in-Patients-with-RAS-mutated-mCRC.html">reported positive results</a> from testing. As of this writing CRDF stock is in the top 20 of stock performance this year meaning there&rsquo;s a good chance it can repeat its winning results of 2020.



<h2>Nio (NIO) </h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/10/nio1600-6-300x169.png" alt="Nio Chinese automobile manufacturer logo displayed on mobile phone"><div>Source: Piotr Swat / Shutterstock.com</div></div>Unfortunately, Chinese EV maker Nio (NYSE:<a href="https://investorplace.com/stock-quotes/nio-stock-quote/">NIO</a>) isn&rsquo;t likely to do so. It will more likely mimic the performance of Blink Charging than Cardiff. As noted before, the EV industry is in a state of flux. With <a href="https://investorplace.com/2024/04/3-tech-stock-titans-grappling-with-fresh-china-challenges/">sales growth ebbing</a>, this back-of-the-pack EV stock isn&rsquo;t going to suddenly charge to the forefront.



Nio is also not profitable, so the ongoing price-cutting environment will only set Nio&rsquo;s chances back even further. But in 2020 it didn&rsquo;t look that way at all.



Where most other EV companies were building sedans, Nio was making SUVs and finding a market for them. Even amid the pandemic, which China responded to far more harshly than Western governments did, Nio was steadily growing monthly sales and had secured financing from Tencent Holdings (OTCMKTS:<a href="https://investorplace.com/stock-quotes/tcehy-stock-quote/">TCEHY</a>) and the government. Nio stock soared 1,089% in 2020.



After hitting an all-time high of $63 a share in early 2021, Nio long ago <a href="https://investorplace.com/2024/02/nio-stock-analysis-a-high-octane-gamble-or-smart-speculative-play/">skidded off the road</a>. The stock goes for less than $4.50 a share today and nothing suggests it&rsquo;s about to rev its engines higher.



On the date of publication, Rich Duprey did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Rich Duprey has written about stocks and investing for the past 20 years. His articles have appeared on Nasdaq.com, The Motley Fool, and Yahoo! Finance, and he has been referenced by U.S. and international publications, including MarketWatch, Financial Times, Forbes, Fast Company, USA Today, Milwaukee Journal Sentinel, Cheddar News, The Boston Globe, L&rsquo;Express, and numerous other news outlets.</div><h3>More From InvestorPlace</h3>
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