Hive Digital’s Stock Dips Despite 23% Growth in BTC Holdings

The Bitcoin miners have continued to report increased rewards from mining, especially after the 4th BTC halving that occurred in April last year. In a similar development, Hive Digital, a known miner, has reported that its year-over-year BTC holding grew by 23%.

Hive said in a press release dated March 07, 2025, that its month-on-month Bitcoin fell due to the strategic BTC selling. Till writing, the Bitcoin holding of Hive was 2,620 BTC, valued at nearly $210 million.

The stock of Hive Digital (CVE: HIVE) grew 6.70% as of today and is exchanging hands at 2.90 CAD; excluding this intraday growth, the stock is down by 12.12% in a week and 28.57% in a month and is down by 26.95%.

If the bearishness in HIVE Digital stock continues, then it might test the nearest support of 2.84 CAD, followed by 2.48 CAD. On the other hand, its resistance is 4.03 CAD and 4.39 CAD.

Hive Digital’s 154.64 million shares are free floating and around 766.91k. The estimated annual price target of 11.93 CAD which is currently 311. 305% greater than the current price target.

The estimated revenue of the company in the 1st quarter is 59.10 million CAD, and EPS is negative 0.03 CAD.

Declining BTC prices fueled fear in the market

Over the past few trading sessions Bitcoin has failed to meet the expectations as it continues to fall. In mid-February it was tumbling below $95k, and in the following, it was below $90k and now is below $85k with a weekly decline of 10%.

As of writing, Bitcoin was below all crucial exponential moving averages, including 20,50,100, and 200 days; as per market spectator, the current price of Bitcoin is near to the price before the victory of Donald Trump, which pumped the prices above $100k.

Data on TradingView notes that prices of Bitcoin are down by 12.26% in a week and around 15% in losses in the quarterly frame. The nearest visible support of BTC is $79,043 and $73,248; in case of a changed pace and path, its clearly visible resistance is $97,895 and $103,310.

Geopolitical experts say that the constant decline in the prices of Bitcoin and Ethereum, with a wider market in bearish territory, is due to the growing trade tension between the United States and some other nations.

In the most recent development, the Trump administration has criticized the trade tariff, yet India has lowered trade charges against the United States.

A recovery in prices was claimed when Trump signed executive orders to establish the Bitcoin Reserve, it is worth noting that a tiny change in the trading prices of cryptocurrencies like Bitcoin, Ethereum, XRP, Cardano, and Solana was observed, but the bulls failed to sustain for longer.