HIVE Says It Should Be A $20 Stock — And This Billionaire Just Bought In
Posted On November 18, 2025
HIVE Digital Technologies Ltd (NASDAQ:HIVE) dropped a bold valuation argument on its second quarter earnings call — one that turned heads even in a market obsessed with AI multiples. Executive chairman Frank Holmes told investors that if HIVE were priced like other data-center operators, the stock wouldn’t be anywhere near current levels. As he put it: “If we were valued at other data centers… HIVE would be a $20 [stock]”
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With shares trading around $3.52, that’s a theoretical upside of more than 460%, and Holmes made it clear he thinks the gap reflects a misunderstanding of HIVE’s shift into high-performance AI infrastructure.
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