HIVE stock at four-month high amid historic Bitcoin rally
The HIVE Digital Technologies (Nasdaq: HIVE) stock reached $2.47 on July 11, piggybacking on the phenomenal all-time high (ATH) Bitcoin reached this week.
The stock is at its four-month high, as it last reached $2.52 on Feb. 24.
HIVE Digital is one of the most prominent Bitcoin mining firms in the world. Crypto mining is the process of validating and adding transactions to a blockchain by solving cryptographic problems called hashes.
On July 10, the firm announced it has surpassed a $250 million annualized run rate revenue. It has also surpassed 12 exahash per second (EH/s) of global Bitcoin mining hashrate, twice its output at the beginning of 2025.
Hashrate measures how fast a miner executes cryptographic functions to solve blocks in a chain. It is calculated in terms of hashes per second, i.e., the number of hash operations executed per second.
"Once we hit 18 EH/s, we expect approximately $400 million in annual run rate revenue," HIVE President & CEO Aydin Kilic said.
While HIVE has facilities in Canada and Sweden, the firm is making a bold bet on its expanding facility in Paraguay.
On July 7, the firm announced a series of milestones it has achieved in Bitcoin production.
HIVE said it mined 164 Bitcoin in June, in contrast to 139 Bitcoin in May.
In fact, it mined 15 Bitcoin per EH/s and 5.5 Bitcoin on a daily basis in June.
Co-founder and executive chairman Frank Holmes is counting on the Paraguay facility to reach an even higher target of 12 BTC a day by the end of 2025.
HIVE stock at four-month high amid historic Bitcoin rally first appeared on TheStreet on Jul 11, 2025
This story was originally reported by TheStreet on Jul 11, 2025, where it first appeared.
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Hamilton Spectator
34 minutes ago
- Hamilton Spectator
CUSMA-compliant goods exempt from Trump's 35% trade threat to Canada, White House says
As he reframes his country's trade relationship with the rest of the world, U.S. president Donald Trump is once again turning to some of his favourite tactics: chaos, bluster and uncertainty. A day after Trump fired off a letter to Prime Minister Mark Carney threatening to impose a 35-per-cent tariff on imports from Canada, Trump and some of his White House officials muddied the waters, suggesting that there'd be an exception for goods which comply with the Canada-U.S.-Mexico Agreement on trade. Canadian officials weren't so sure. That lack of clarity is precisely the point of Trump's latest threat, said international trade lawyer John Boscariol. 'I think the goal here is more bluster and chaos on the Trump side during the negotiation process,' said Boscariol, head of the trade law group at McCarthy Tétrault. 'By now, we're starting to recognize a pattern where these missiles are sent during discussions and there's an immediate reaction.' Trump said in a letter to Prime Minister Mark Carney Thursday that Canadian imports would face a 35-per-cent tariff as of Aug. 1 if no trade agreement is reached. Carney had initially been hoping for a deal by July 21. A White House official later suggested that the new tariff would only apply to goods that already face a 25-per-cent rate. That means goods that comply with the Canada-U.S.-Mexico Agreement would avoid the levy, as would energy and potash imports, which face a 10-per-cent rate. The official also said no final policy paper has been drafted and Trump has not yet made a final decision. The new tariff is an increase to the top 25% tariff rates that Trump first imposed in March after months of threats. Trump's tariffs were allegedly in an effort to get Canada to crack down on fentanyl smuggling despite the relatively modest trafficking in the drug from that country. (Produced by Luke Garratt / AP Video / July 11, 2025) A Canadian government official told the Star Friday it was still unclear which goods the 35-per-cent tariff rate would actually apply to. The new trade deadline means Canada will not double its existing 25-per-cent retaliatory tariffs on American steel and aluminum by July 21, the official confirmed. Trump's goal is to create leverage for his negotiators, Boscariol added. 'He announces something. It's not clear exactly how it applies or what it applies to. He lets it hang out there for a while,' said Boscariol. 'I think Canadian negotiators should keep their heads down and ignore the noise.' It's also clear, based on Trump's letters to other countries this week, that he hopes to use trade negotiations to extract non-trade goals, said Boscariol, pointing to Trump's letter to current Brazilian president Luiz Inácio Lula da Silva, which blasted criminal charges against Lula's predecessor and Trump ally Jair Bolsonaro. That makes it harder, said Boscariol, for negotiators to find a coherent way to approach negotiations when the goals aren't precisely clear. Seeing the leader of the world's largest economy use trade talks as a goal to extract non-trade concessions is a new, chaotic path, Boscariol said. 'This just seems to be pure chaos. It seems to change depending on what his interests might be. Sometimes it's trade-related, sometimes it's something else. I think this is unprecedented,' said Boscariol. In the case of Canada, Trump accused Ottawa in his letter to Carney of failing to prevent fentanyl from crossing the border, saying he would 'consider an adjustment' to his tariffs if Canada works with him on the issue. That's despite Canada being a minor source of the fentanyl going into the U.S., data has shown. William Pellerin, an international trade lawyer at McMillan LLP, said it appears Trump is seeking further concessions on Canada's supply management system, even though the Carney government has said it is off the table in negotiations. Industry Minister Mélanie Joly says Canada intends to continue to apply pressure on the U.S. at the negotiating table as U.S. President Donald Trump threatens 35 per cent tariffs after Aug. 1, the deadline for a new economic and security partnership between the two countries. (July 11, 2025 / The Canadian Press) 'If the tariffs go in place and the Canadian auto industry and steel industry begin massive layoffs, for example, and the tariff situation is not getting better, then maybe that changes the equation,' Pellerin told the Star. But putting too much emphasis on whether or not CUSMA exemptions will apply could wind up backfiring, said Matthew Holmes, public policy chief at the Canadian Chamber of Commerce. 'I don't think it helps Canada in any way to assume that CUSMA will protect us. There's nothing in this process that I trust at all. It's a risk,' said Holmes. Trump's letter to Carney makes it clear the U.S. president is aiming for maximum chaos and leverage, Holmes said. 'The 35 per cent is there unless it's not there. Or maybe if he decides we're doing something on fentanyl,' said Holmes. 'Like everything throughout this whole process, it's arbitrary and subject to the whims of one man. The only thing of substance in this letter is that it pushed out the deadline to Aug. 1.' The head of Canada's largest private sector union blasted the 35-per-cent tariff threat. 'There's only one answer to this extortion from the U.S. president: push back — hard,' Unifor national president Lana Payne said. 'Trump's playbook is clear, implement and threaten sky-high tariffs to condition us into accepting a lower baseline tariff as the new normal. We must never fall for it.' Speaking to reporters outside the White House on Friday, Trump said he had a conversation with Canadian officials on Thursday but offered no new details. 'We're gonna see. It was sent yesterday. They called. I think it was fairly well-received,' he said. Carney's office said Friday that the PM will be convening his cabinet for a meeting Tuesday to discuss the negotiations between the two countries ahead of the revised Aug. 1 deadline. He's also holding a meeting with all premiers on July 22. Canada also faces additional U.S. tariffs on steel, aluminum and automobiles, as well as a U.S. plan to introduce tariffs on copper on Aug. 1. At Queen's Park, Premier Doug Ford's office said Trump's latest threatened escalation puts more pressure on Ottawa. 'Now more than ever, we need the federal government to work around the clock to secure a deal that is right for Canada and eliminates all American tariffs,' Ford's office said Friday. With files from Robert Benzie and Star wires
Yahoo
an hour ago
- Yahoo
US economy poised to slow as Trump's tariffs hit consumers
The cloud of uncertainty that has hovered over the U.S. economy the first half of 2025 threatens to unleash a thunderstorm that dampens growth in the second half as President Donald Trump's higher tariffs hit consumers and his immigration crackdown rocks the job market. While growth was already poised to slow, Trump on July 10 increased the risks of a more pronounced pullback by announcing plans to raise the tariff rate on many Canadian imports from 25% to 35% and impose a blanket 15% to 20% duty on most other countries, up from 10%. On July 12, the tariff threats ramped up again with Trump announcing 30% tariffs on all imports from Mexico and the European Union. In the spring, Trump announced a 90-day pause on high double-digit reciprocal tariffs for China and many other countries, easing recession fears and reversing a stock market sell-off. This week, White House officials extended the reprieve to August 1 to provide more time for negotiations. But in recent days, Trump again has ratcheted up his trade threats, unveiling plans for a 50% tariff on imported copper, 50% on all shipments from Brazil and high fees for 14 countries that don't reach a deal with the U.S. by August 1. Already in effect: a 50% levy on metals, 25% on cars and 30% on China, in addition to the blanket 10% charge that appears poised to rise sharply. The Dow Jones Industrial Average tumbled nearly 280 points July 11 on Trump's latest tariff threats. 'Risks are intensifying that we may see much higher tariff rates, with consequent effects on inflation and growth,' said Jonathan Millar, senior U.S. economist at Barclays. Just 42% of CEOs of small and midsize companies plan to add to their staffs in the next year, lowest on record dating to 2003, according to a June survey by Vistage, a CEO networking group. Gregory Daco, chief economist at EY-Parthenon, has lowered his odds of a recession this year to 35% from 50% but said the chances of a downturn would climb above 50% if Trump reverts to the tariffs he rolled out in early April. Even without the harsher import fees Trump recently announced, economists have been predicting a notable slowdown in growth the rest the year. 'We're carrying much less economic momentum, with a softening labor market trend, inflation about to reaccelerate and income (growth) more subdued,' Daco said. Forecasters have been surprised that tariffs haven't yet had a significant effect on inflation. Daco said that's partly because manufacturers and retailers stocked up on foreign goods in February and March, before the fees took effect. Also, he said, companies have been routing products through bonded warehouses that delay tariff payments. U.S. businesses and foreign exporters have absorbed much of the costs. And higher prices from tariffs don't immediately show up in inflation reports, such as the consumer price index. But all those tactics can delay the inevitable only so long, Daco said. 'As inventory buffers thin, bonded warehouse timelines expire and cost absorption runs its course, price pressures will start surfacing more clearly into the second half of 2025,' he wrote in a note to clients. Before Trump escalated the trade conflicts, many economists said the levies have pushed the average U.S. tariff rate from about 3% to 15%, a rise that would drive the Federal Reserve's preferred annual inflation measure from 2.7% to about 3.3% by the end of the year. Meanwhile, an immigration surge that has bolstered the U.S. labor supply and job growth the past few years 'is about to go into reverse,' JPMorgan Chase said in a research note last week. The Trump administration is ending provisions that temporarily protected immigrants who lack permanent legal status from deportations for humanitarian reasons. That will likely cause 1.8 million migrants, including about 1.1 million workers, to lose their legal status in the second half of the year, JPMorgan Chase said. Especially affected are industries such as agriculture, construction and hospitality. Already, annual net immigration to the U.S. has slowed from about 3 million the past few years to an annual rate that's set to reach 500,000 by year's end, according to the Congressional Budget Office and economists. That compares to a rate of 900,000 a year before the pandemic. While the slowdown is projected to reduce job growth, forecasters reckoned that would take some time because many immigrants who arrived in recent waves are still settling into jobs. But the spike in deportations could quickly slow America's job engine within months, JPMorgan Chase said. The economy shrank at an annual rate of 0.5% in the first quarter but forecasters said that was mostly because the flood of imports from companies stocking up had to be subtracted from output (since they're made in foreign countries). Private domestic demand, a more telling measure of the economy's underlying health, increased a solid 1.9%. And economists estimate the government later this month will report 2% growth in the second quarter, according to those surveyed by Wolters Kluwer Blue Economic Indicators. But those forecasters expect quarterly growth to average just 0.7% the second half of the year, in line with Millar's estimate. and above the 0.5% gain Daco projects. That's close to stall speed. From the fourth quarter of 2024 to the fourth quarter of 2025, Millar estimates the economy will grow a meager 0.5%, compared to 2.5% the prior year. Here's a breakdown: Resilient households have propped up the economy the past few years but the threat of higher prices from tariffs has led Americans to rein in their spending, Daco and Millar said. Now, the actual pass-through of the fees into prices will likely have a more tangible impact on consumption, Daco said. Consumers especially have been cutting back on discretionary purchases, such as recreational services, travel and dining out. Income also has moderated, with average annual wage growth falling from about 6% in early 2022 to 3.7% in June. After adjusting for inflation, consumer spending fell 0.3% in May and is expected to rise just 0.7% the second half of the year, according to the Wolters Kluwer survey. Consumption makes up 70% of economic activity. Average monthly job growth has slowed to 130,000 so far this year from 168,000 in 2024. Companies have sharply cut back hiring amid tariff-related uncertainty but remain hesitant to lay off workers following severe pandemic-related labor shortages, Millar said. But Daco said more companies are shedding workers through attrition and retirement, as well as targeted layoffs. Tracy Marlowe, CEO of Creative Noggin, a marketing company based in San Antonio, Texas, said sales were flat last year amid election-related uncertainty. After the election, clients began making requests for new campaigns but pulled back again in early 2025 amid Trump's on-again, off-again tariffs. Marlowe had been planning to add a full-time employee to her staff of 20 later this year but has decided to hold off. Clients 'are just trying to figure out how to stay alive,' she said. "I'll hire once I need somebody." Coping with the Great Recession and the COVID-19 downturn was easier, Marlowe said, because she knew the roadmap for recovery. By contrast, the trade war 'has been a constantly changing roller coaster... It makes it very difficult to predict what's next.' The immigration crackdown is set to slow job growth further, Daco said. Business capital spending surged in the first quarter as firms stocked up ahead of tariffs. But the economists surveyed by Wolters Kluwer expect outlays to fall in the second, third and fourth quarters. Companies already leery about ramping up spending amid the uncertainty are likely to hunker down further as the import costs they absorb squeeze profits, Daco said. Housing starts fell 9.8% in May and single-family starts are down 16% since February, according to Oxford Economics. 'Elevated interest rates and higher building material costs due to tariffs will make construction less profitable,' Oxford said in a research note. This article originally appeared on USA TODAY: Economy expected to approach stall speed as tariffs hurt consumers Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Canada ‘only country in the world' outside of China to impose ‘so many' counter-tariffs: Joly
Canadian Industry Minister Mélanie Joly said Friday that federal government would not negotiate in public with the United States, but added that Canada is the 'only country in the world' outside of China that has imposed 'so many' counter-tariffs.
