HIVE is a company that operates a blockchain mining platform. Its shares have been moving along with the price of Bitcoin, and its share price will continue to do so. The rise in price of Bitcoin may impact HIVE’s revenue. Another factor that may affect HIVE is the Federal Reserve’s decision to raise interest rates.
HIVE Blockchain Technologies mines Bitcoin and Ethereum, and is run on green energy. As such, it is an excellent ESG investment. However, investors should be aware of the risks of direct exposure to these assets, as they pay handsomely in bull markets but may incur greater losses in bear markets. As of this writing, HIVE blockchain stock has fallen over 87% from its recent high, making it a highly undervalued investment.
One factor that influences Hive Blockchain’s valuation is the company’s future growth prospects. According to Hive’s Q1 2023 earnings report, it has accumulated $71.4 million in digital assets, which includes bitcoin and Ethereum. The cryptocurrency market is on the verge of a merging, which is good news for Hive Blockchain investors. The combined value of these assets will likely rise to more than $170 million.
Although HIVE is not a high-risk, high-yield investment, it is a top-performing cryptocurrency miner. Although it once had a technical partner, Hive Blockchain now runs its operations on its own. The company has three data centres and self-manages its mining operations.