What's Going On With Bitcoin Miner Hive Digital Technologies Stock?
Portfolio Pulse from Erica Kollmann
Hive Digital Technologies Ltd (NASDAQ:HIVE) completed a bought-deal private placement of 5.75 million special warrants, raising CA$28.75 million. The funds will expand its Bitcoin mining operations and for general corporate purposes. The stock is up nearly 15% over the last five days but is currently trading lower by 6.84% at $4.79. The anticipation of a spot Bitcoin ETF and Bitcoin's rally may be influencing HIVE's recent gains.
December 29, 2023 | 3:51 pm
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Hive Digital Technologies completed a private placement, raising funds to expand Bitcoin mining operations. The stock has seen recent gains but is currently trading lower.
While the successful capital raise is positive, indicating potential growth, the current trading dip suggests a short-term negative reaction or profit-taking. The overall market sentiment towards Bitcoin and the crypto sector will continue to influence HIVE's stock price.
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