I've looked at both previously
From memory
HIVE is primarily a very efficient bit coin miner ...especially their Sth American operation ..Paraguay ? .
So as bitcoin goes up their stock goes up ...less of a play on AI buildout .
CIFR is a smaller scale , has power to their Texas sites IIRC and is doing collocation deals ...ie will not build the data center until they have a partner who may end up operating it .
However , currently making lots of $ off their bitcoin mining
IREN by contrast is full into the AI buildout and has raise almost $1b via these notes just issued ...to roll out their Texas AI data centers from the land they own , committed power , construction of the data centers , filling them with NVDA Blackwell chips ...and operating them . Ie. the full stack .
So I've mainly invested in them ...although I do have a position also in RIOT
Kiwi
Market Data 
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