Hive Digital Technologies Rings Nasdaq Closing Bell, Eyes $100M HPC Growth

Hive Digital Technologies (HIVE) has many firsts in the crypto industry. It was the first publicly traded Bitcoin miner in 2017 and one of the earliest to make a decisive pivot into high-performance computing (HPC) in 2022.

Now, Hive is back in the spotlight, ringing the closing bell at the Nasdaq Stock Exchange as it eyes a $100 million annual run rate for its HPC business by next year.

Cointelegraph received an exclusive invitation to the Nasdaq event, where we sat down with Executive Chairman Frank Holmes and CEO Aydin Kilic. The two discussed the mining industry’s escalating “scramble for electricity and land,” Bitcoin’s (BTC) evolving role as a reserve asset, and the challenges of still being viewed as a Bitcoin proxy stock in 2025.

This week’s Crypto Biz kicks off with the Hive-Nasdaq milestone, then turns to Citadel Securities’ latest warning to the US Securities and Exchange Commission (SEC), and the election-fueled rise of US President Donald Trump’s Bitcoin mentor. It wraps up with IPO buzz, as yet another crypto-native company sets its sights on going public.

Hive rings Nasdaq closing bell as it ramps up HPC growth

Hive’s HPC business has made significant strides since first appearing on the company’s income statement in 2023. It now boasts a $20 million annual run rate, with projections to grow fivefold by early next year.

While Hive’s Bitcoin mining operations remain profitable, the company has been actively diversifying in response to successive Bitcoin halvings, which have increasingly squeezed miner margins. Most recently, Hive acquired a site near Toronto’s major airport, where it plans to add 7.2 megawatts of HPC capacity.

Despite this progress, Hive’s stock performance hasn’t always reflected its operational success. According to Kilic and Holmes, that’s largely due to the market still viewing Hive as a Bitcoin proxy stock — leaving it exposed to shifting investor sentiment.

Citadel warns SEC against moving too quickly on tokenization

As the US SEC prepares to streamline tokenization regulations, potentially introducing an “innovation exemption,” Citadel Securities has urged caution, warning against moving too fast and inadvertently creating regulatory loopholes.

“Tokenized securities must achieve success by…