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Mike Grondal

Research Analyst at Northland

Mike Grondahl is the Head of Institutional Equity Sales, Trading and Research and Senior Research Analyst at Northland Capital Markets, specializing in financial technology and business services. He covers a diverse portfolio of companies including Applied Digital, Euronet Worldwide, Green Dot, Bitdeer Technologies, Bitfarms, Exodus Movement, Sezzle, WisdomTree, and BitFuFu, among others, with a strong track record of generating high returns—his recommendations have achieved an average return of 18.1% and a success rate of 47%, ranking him among the top Wall Street analysts on platforms like TipRanks. Grondahl joined Northland Capital Markets in January 2016, bringing over 25 years of experience from prominent investment banks and buy-side firms, and previously worked in public accounting at Ernst & Young and Deloitte & Touche. He holds multiple FINRA securities licenses, including Series 7, 24, 63, and 86/87, and has been recognized for his research excellence, notably ranking #8 in TipRanks’ 2020 Top 100 Wall Street Analysts list.

Mike Grondal's questions to HIVE Digital Technologies (HIVE) leadership

Question · Q2 2026

Mike Grondal questioned the number of contracted GPUs out of the 6,000 planned for deployment in the coming quarters, seeking clarity on the visibility of these contracts and the average term, noting a discrepancy between 3-12 months and two-year terms.

Answer

Aydin Kilic, CEO and President of HIVE, clarified that the existing GPUs are on 3-12 month contracts. He explained that the 6,000 new Blackwell GPUs are not yet live but will be brought online in tranches (1,000 in Q1 2026, 1,000 in Q3 2026, and 4,000 in Q4 2026) as retrofits are completed. He stated that more color on contracted GPUs will be provided when they go live, and the two-year term was used for conservative base-case modeling.

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