HIVE Digital (HIVE) shares closed meaningfully higher on May 18 after the company announced an ambitious plan to build a $3.5 billion artificial intelligence (AI) gigafactory in Toronto.
According to its press release, the huge 25-acre campus will command a 320-MW power allocation capable of hosting more than 100,000 high-performance graphics processing units (GPUs).
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Including today’s gains, HIVE shares are up an exciting 100% versus their year-to-date low.
www.barchart.comWhy Is the AI Gigafactory News Bullish for HIVE Stock?
The artificial intelligence campus announcement is constructive for HIVE stock as it improves the company’s standing as an AI infrastructure name rather than a cyclical Bitcoin (BTCUSD) miner.
A multi-billion-dollar gigafactory with 320-megawatt power allocation and room for over 100,000 GPUs positions the Nasdaq-listed firm to capture the fastest-growing segment of global compute demand.
It expands HIVE’s addressable market, improves visibility into future cash flows, and significantly reduces the company’s perceived risk profile.
In short, this commitment validates the firm’s pivot toward higher-margin AI and HPC workloads, which typically offer much more stable economics than BTC mining.
What Else Makes HIVE Shares Worth Owning in 2026?
While HIVE’s crypto mining rivals struggle under post-halving mining economics, its dual-engine model continues to thrive in 2026.
The company leverages over 850-MW of global power capacity spanning Sweden, Paraguay, and Canada to support both efficient digital asset operations and a rapidly growing fleet of 5,500 active AI computing GPUs.
Trading at a reasonable price-to-sales (P/S) ratio of just over 2x, thanks to a more than 200% year-on-year increase in revenue in the latest reported quarter, HIVE shares offer an entry point into the AI boom with a concrete, asset-backed valuation, rather than pure speculative hype.
Note that Barchart currently holds a “24% BUY” opinion on HIVE Digital, indicating technicals have already started turning in favor of this artificial intelligence stock.
How Wall Street Recommends Playing HIVE Digital
Wall Street analysts seem to share Barchart’s optimism on Vancouver-headquartered HIVE Digital Technologies as well.
At the time of writing, the consensus rating on HIVE stock sits at “Strong Buy” with the mean price target of $5.50, signaling potential for another 58% upside from current levels.
www.barchart.com On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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