HIVE Digital builds and operates renewable-energy-powered data centres, primarily for Bitcoin mining and increasingly for AI/high-performance computing (HPC). It operates sites in Canada, Sweden and Paraguay, emphasizing green energy (hydro-power) for its operations. The business model is dual-engine: generate cash via crypto mining, then reinvest into GPU/AI infrastructure.
The company is transitioning from pure crypto mining toward a broader infrastructure play combining mining + AI/HPC, with solid revenue growth and margin improvement, yet still subject to volatility from Bitcoin price, mining difficulty and non-cash accounting impacts on its holdings.
If the price of Bitcoin has found a major low recently just below $99,000 , HIVE may be a winner as the previous cycle highs topped $30.
Not only so, the company has been trading in what seems like a major accumulation range since the bear market in 2022, and potentially beginning the next mark up phase.
The current orange line, is the volume profile of the entire accumulation range, meaning that 70% - 80% of the stock was traded below the price point of $4.72. Seeing as the stock may be showing a strong break and re-test of this price range, we may start entering a fierce impulsive phase which is common for cyclical stocks within this industry.
I would ideally love to see this stock return to 2021 highs. See my comments below where I will dissect the accumulation Wycoff pattern, and look for the potential move higher with a clear defined stop-loss.
The company is transitioning from pure crypto mining toward a broader infrastructure play combining mining + AI/HPC, with solid revenue growth and margin improvement, yet still subject to volatility from Bitcoin price, mining difficulty and non-cash accounting impacts on its holdings.
If the price of Bitcoin has found a major low recently just below $99,000 , HIVE may be a winner as the previous cycle highs topped $30.
Not only so, the company has been trading in what seems like a major accumulation range since the bear market in 2022, and potentially beginning the next mark up phase.
The current orange line, is the volume profile of the entire accumulation range, meaning that 70% - 80% of the stock was traded below the price point of $4.72. Seeing as the stock may be showing a strong break and re-test of this price range, we may start entering a fierce impulsive phase which is common for cyclical stocks within this industry.
I would ideally love to see this stock return to 2021 highs. See my comments below where I will dissect the accumulation Wycoff pattern, and look for the potential move higher with a clear defined stop-loss.
Note
See accumulation range on the daily time frame Trade active
Here is the entry zone Note
Note
Very suspicious move lower at the moment, seemingly seems a bit too far too fast. Several indicators are showing me that other assets are currently at support including bitcoin. I will wait for the daily close for a bit more clarity because this feels like a bit of a fake-out (Stop Hunt) at the moment. Note
Massive drop on the least amount of volume traded in recent weeks. Seems fishy Note
No quite liking this price action personally, was quite a bit off on the direction. I am going to de-risk this position by 50% for now and take the 15% loss before it grow significantly larger. Trade closed manually
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.