HIVE Digital Technologies (HIVE) Company Report

Analyst Coverage

Research analysts who have asked questions during HIVE Digital Technologies earnings calls.

Bill Papanastasiou

Keefe, Bruyette & Woods (KBW)

7 questions for HIVE

Also covers: ARBK, BITF, BLSH +11 more

Darren Aftahi

Roth Capital Partners

4 questions for HIVE

Also covers: ALRM, ANTA, APLD +17 more

Mike Grondahl

Lake Street Capital Markets

4 questions for HIVE

Also covers: ABL, ACCS, APLD +35 more

Chris Brendler

Rosenblatt Securities

2 questions for HIVE

Also covers: ABTC, BLSH, BULL +6 more

Fedor Shabalin

B. Riley Securities

2 questions for HIVE

Also covers: ABTC, BITF, BTDR +4 more

Joe Vafi

Canaccord Genuity Group Inc.

2 questions for HIVE

Also covers: BLND, CORZ, GLXY +1 more

Joseph Vafi

Canaccord Genuity - Global Capital Markets

2 questions for HIVE

Also covers: ADV, ALIT, ASGN +20 more

Lucas Pipes

B. Riley Securities

2 questions for HIVE

Also covers: AA, AMR, AMRK +21 more

Michael Colonnese

H.C. Wainwright & Co.

2 questions for HIVE

Also covers: BITF, BTDR, BTM +7 more

Mike Grondal

Northland

1 question for HIVE

Nick Giles

B. Riley Securities

1 question for HIVE

Also covers: AA, AMR, APLD +25 more

Nick Setyan

Wedbush Securities

1 question for HIVE

Also covers: BJRI, BROS, CAVA +4 more

Peter Sevelin

B. Riley Securities

1 question for HIVE

Latest news

Recent press releases and 8-K filings for HIVE.

HIVE Digital Technologies Reports Strong January 2026 Bitcoin Production and Hashrate Growth

HIVE

New Projects/Investments

Revenue Acceleration/Inflection

HIVE Digital Technologies produced 297 BTC in January 2026, representing a 191% year-over-year increase from 102 BTC in January 2025.
The company's hashrate averaged 22.2 Exahash per Second ("EH/s") in January 2026, reflecting 290% year-over-year growth from 5.7 EH/s in January 2025.
HIVE realized approximately $7.4 million in value through cashless exercises of 480 BTC from its 2025 Bitcoin pledge, using the proceeds to purchase 2,667 Bitmain S21 XP ASIC miners.
These new miner installations are expected to increase HIVE's installed global hashrate to 25.5 EH/s and improve its global average fleet efficiency to 17 J/TH.
The company's total current operational energy capacity is 440 megawatts ("MW"), with an additional 100 MW of renewable contracted energy scheduled for deployment in Q3 2026, bringing the total portfolio to 540 MW.

14 hours ago

6-K

HIVE Digital Technologies Ltd. to Hold Annual Meeting on March 5, 2026, Reports Strong 2025 Growth and Strategic Developments

HIVE

Executive Compensation

New Projects/Investments

Proxy Vote Outcomes

HIVE Digital Technologies Ltd. will hold its Annual General and Special Meeting of Shareholders on March 5, 2026, where shareholders will vote on the re-approval of the Corporation's Option Plan and Restricted Share Unit (RSU) Plan.
In 2025, HIVE demonstrated significant growth, tripling revenue and cash flow, scaling Tier 1 data centers from approximately 6 EH/s to 25 EH/s, and doubling its AI and high-performance computing business.
Key strategic initiatives in 2025 included strengthening the leadership team, acquiring a Tier 1 data center in Toronto for a planned 2026 upgrade to Tier 3 specifications, and securing a strategic partnership with Bell Canada for NVIDIA-powered AI infrastructure.
For the financial year ended March 31, 2025, total compensation for Named Executive Officers included $6,221,490 for Executive Chairman Frank Holmes and $4,296,563 for President and CEO Aydin Kilic.
As of March 31, 2025, the Corporation had 165,615,186 common shares issued and outstanding, with 10,413,712 securities authorized for issuance under equity compensation plans.

Jan 28, 2026, 1:53 PM

6-K

HIVE Digital Technologies Reports December 2025 Bitcoin Production and Full-Year 2025 Performance

HIVE

Revenue Acceleration/Inflection

New Projects/Investments

HIVE Digital Technologies reported 306 Bitcoin produced in December 2025, marking a 197% increase year-over-year from December 2024.
The company achieved strong month-over-month (6%) and quarter-over-quarter (23%) growth in December 2025, with an average hashrate of 23.3 Exahash per Second (EH/s).
For the full calendar year 2025, HIVE produced 2,311 Bitcoin, representing a 31% increase year-over-year from 2024.
HIVE intends to develop an additional 100 megawatts (MW) of hydroelectric-powered data center capacity in Paraguay, targeting full commissioning by calendar Q3 2026, which is expected to bring its total renewable energy footprint to approximately 540 MW.

Jan 7, 2026, 10:06 PM

6-K

HIVE Digital Technologies Announces US$300 Million At-The-Market Equity Program

HIVE

New Projects/Investments

HIVE Digital Technologies Ltd. announced an At-The-Market (ATM) Equity Program on November 25, 2025.
Under this program, the company may offer and sell up to US$300 million of its common stock.
Sales will be made at the company's discretion at prevailing market prices on the TSX Venture Exchange and Nasdaq Stock Market.
The agents involved in the program will receive compensation of up to 3.0% of gross proceeds from each placement.

Nov 25, 2025, 11:44 PM

6-K

HIVE Digital Technologies Ltd. Announces Record Q2 FY2026 Financial Results

HIVE

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

HIVE Digital Technologies Ltd. reported record revenue of $87.3 million for the second quarter ended September 30, 2025, marking a 285% year-over-year increase and a 91% sequential increase.
The company's digital currency mining revenue reached $82.1 million, with 717 Bitcoin mined in Q2, a 76.6% sequential increase, and an operational hashrate of 16.2 EH/s by quarter-end, increasing to 25 EH/s in November 2025.
BUZZ HPC revenue achieved a record $5.2 million, up 175% year-over-year, and the company plans to expand its AI Cloud to over 11,000 GPUs by the end of 2026, targeting ~$140 million in annualized run-rate revenue by Q4 2026.
Adjusted EBITDA for Q2 FY2026 was $31.5 million, while the company reported a GAAP net loss of $15.8 million due to accelerated depreciation.

Nov 18, 2025, 12:45 PM

6-K

HIVE Digital Technologies Ltd. Reports Q2 2026 Financial Results and Significant Operational Expansion

HIVE

Earnings

New Projects/Investments

Revenue Acceleration/Inflection

HIVE Digital Technologies Ltd. reported revenue of $87.25 million and a net loss of $15.80 million for the three months ended September 30, 2025 (Q2 2026), with basic and diluted loss per share of $0.07. This represents a significant increase in revenue compared to $22.65 million in Q2 2025.
The company achieved substantial operational growth, increasing its total installed hashrate to approximately 25 EH/s as of November 10, 2025, and improving overall fleet efficiency to approximately 17.5 J/TH.
Strategic investments include the acquisition of a 200-megawatt hydroelectric facility in Yguazú, Paraguay on March 17, 2025, for $63.95 million, and plans to develop an additional 100 MW at the site, bringing total renewable capacity in Paraguay to 400 MW.
As of September 30, 2025, HIVE maintained a working capital balance of $83.1 million , with $107.3 million in cash provided by financing activities for the six months ended September 30, 2025, primarily from share issuances.

Nov 17, 2025, 2:16 PM

6-K

HIVE Reports Q2 2026 Financial Results and Outlines Growth Strategy

HIVE

Earnings

Guidance Update

New Projects/Investments

HIVE reported Q2 2026 revenue of $87.3 million, driven by $82 million from Bitcoin mining and $5 million from HPC, leading to an adjusted EBITDA of $31.5 million and a net loss of $15.8 million.
The company has achieved 25 exahash capacity installed and is mining approximately 10 Bitcoin per day. An additional 100 megawatts has been approved in Paraguay, with a target to reach 35 exahash by the end of 2026.
HIVE's AI Cloud business generates $20 million ARR from 5,000 GPUs and plans to expand to 11,000 GPUs by the end of 2026 with 6,000 new Blackwell GPUs. This expansion is expected to contribute to a $225 million ARR target for the Buzz HPC segment by year-end 2026.
The company aims for a total $750 million ARR by the end of 2026 through its dual-engine strategy. Its Buzz HPC Cloud platform received a bronze award from SemiAnalysis, positioning it favorably against peers.

Nov 17, 2025, 1:00 PM

Transcript

HIVE Reports Q2 2026 Results and Outlines 2026 Growth Strategy

HIVE

Earnings

Guidance Update

New Projects/Investments

HIVE reported Q2 2026 revenue of $87 million, with $82 million from Bitcoin mining and over $5 million from its HPC business, leading to a $31.5 million adjusted EBITDA and a net loss of $15.8 million.
The company's Bitcoin mining operations currently produce approximately 10 Bitcoin per day with 25 exahash capacity and an annualized run rate (ARR) of $400 million. HIVE plans to expand its capacity to 35 exahash by the end of 2026, targeting $550 million ARR.
HIVE's HPC business, BUZZ, currently generates $20 million ARR from 5,000 GPUs. The company aims to double its GPU AI cloud to 11,000 GPUs by the end of 2026, targeting $140 million ARR from AI cloud and an additional $85 million ARR from hyperscaler colocation, bringing the total BUZZ target to $225 million ARR.
The overall target for HIVE's dual-engine strategy (Bitcoin mining and BUZZ) is $750 million ARR by the end of 2026. The company emphasizes disciplined capital allocation and utilizes vendor financing for GPU expansion, minimizing significant CapEx requirements.

Nov 17, 2025, 1:00 PM

Transcript

HIVE Reports Q2 2026 Results and Outlines Dual-Engine Growth Strategy

HIVE

Earnings

Guidance Update

New Projects/Investments

HIVE reported Q2 2026 revenue of $87.3 million, with $82 million from Bitcoin mining and over $5 million from its HPC business. The company achieved a gross operating margin of $42.4 million and adjusted EBITDA of $31.5 million.
The company's Bitcoin mining operations reached 25 exahash capacity, mining approximately 10 Bitcoin per day. HIVE aims to expand this to 35 exahash by the end of 2026, projecting $550 million in annualized revenue from this segment.
HIVE's HPC business, Buzz, currently generates $20 million in annualized recurring revenue (ARR) from 5,000 GPUs. Plans include doubling its GPU cloud to 11,000 GPUs by the end of 2026 with an additional 6,000 Blackwell GPUs.
The company targets $225 million in ARR for the Buzz HPC segment and a total of $750 million in ARR for its dual-engine strategy (Bitcoin mining and HPC) by the end of 2026. Significant GPU expansion will be supported by vendor financing, with CapEx primarily for data center conversions in Toronto ($40 million) and Boden ($25 million).

Nov 17, 2025, 1:00 PM

Transcript

HIVE Digital Technologies Announces Bitcoin Mining Capacity Increase, Major Land Acquisition for AI HPC Data Centers, and ATM Offering Results

HIVE

New Projects/Investments

Revenue Acceleration/Inflection

Guidance Update

HIVE Digital Technologies Ltd. achieved 23 Exahash per second (EH/s) in global Bitcoin-mining capacity, representing 283% year-to-date growth in 2025, and anticipates reaching 25 EH/s by U.S. Thanksgiving.
The company acquired an additional 32.5 acres in Grand Falls, New Brunswick, for CAD $2.3 million, to develop a Tier III+ AI and HPC data center capable of scaling to over 25,000 next-generation GPUs.
HIVE's long-term HPC data center capacity is projected to reach approximately 36,000 GPUs by year-end 2026, including existing GPUs and new additions from Grand Falls, Boden, Toronto, and a Bell colocation partnership.
For the three-month period ended September 30, 2025, HIVE issued 30,174,046 common shares through an at-the-market offering, generating gross proceeds of C$100.2 million ($73.1 million).