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Author: Admin | 2025-04-28
Proof-of-stake system, is going to adversely impact HIVE. It’s worth noting that HIVE’s Ethereum mining operations have historically delivered three to four times higher revenue per megawatt than bitcoin mining.Once Ethereum completes its upgrade, miners like HIVE will have to think of other ways to use their Ethereum mining capabilities. In its production update, HIVE mentioned that it is exploring the mining of other GPU (graphics processing unit)-mineable coins with its fleet of GPUs.What Is the Forecast for HIVE Stock?Following HIVE’s Q2 update last month, H.C. Wainwright analyst Kevin Dede opined that with Ethereum's transition to proof-of-stake, “ETH mining may no longer be an opportunity, placing HIVE's fate in the hands of BTC exclusively, or some undetermined alternative use of its GPU cards.”Dede cautioned that in the worst-case scenario, if HIVE mines bitcoin only, then the company’s revenue could fall to $134.3 million. The analyst acknowledged that the Ethereum Merge could be a disadvantage to HIVE. That said, Dede highlighted that the company continues to expand its BTC mining capacity and could enhance its hash rate to 4.6EH/s (Exahashes per second) by March 2023.Dede reiterated a Buy rating for HIVE stock and increased the price target to $7 from $6 based on “continued confidence in execution.”Overall, HIVE scores a Moderate Buy consensus rating based on two recent reviews. The average HIVE price target of $7 implies 62.2% upside potential from current levels.Marathon Digital (MARA)Marathon Digital is one of the leading bitcoin mining companies. The company produced 184 bitcoin in August,
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