HIVE Digital Technologies Ltd. is a publicly listed company specializing in cryptocurrency mining and high-performance computing (HPC). The company operates green energy-powered data centers to mine digital currencies, particularly Bitcoin, and is expanding into HPC applications, including artificial intelligence (AI) and machine learning. HIVE also offers hosting services and plans to provide cloud-based computing solutions.
- Digital Currency Mining - Mines cryptocurrencies, primarily Bitcoin, using green energy-powered data centers and converts other cryptocurrencies into Bitcoin for secure storage.
- High-Performance Computing (HPC) Hosting - Provides hosting services for computational tasks, leveraging GPU-based systems for applications like AI, machine learning, and advanced data analysis.
- HIVE Cloud - Plans to offer cloud-based computing resources, including virtual GPU instances and bare-metal servers, targeting businesses needing scalable computational power.
- GPU Server Cluster Rentals - Develops rental services for GPU server clusters, offering cost-effective alternatives for small and medium-sized businesses.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Frank Holmes ExecutiveBoard | Executive Chairman | Chief Executive Officer and Chief Investment Officer of U.S. Global Investors, Inc. | Frank Holmes has served as the Executive Chairman and Director of HIVE Digital Technologies Ltd. since August 23, 2017 and also operates as the Chief Executive Officer and Chief Investment Officer of U.S. Global Investors, Inc. | View Report → |
Aydin Kilic Executive | President & Chief Executive Officer | Aydin Kilic is the President & Chief Executive Officer of HIVE Digital Technologies since January 2023. He previously served as President & Chief Operating Officer from August 2021 to January 2023 and was Founder and CEO of Fortress Technologies Inc. from November 2017 to September 2021. | View Report → | |
Dave Perrill Board | Director | Dave Perrill is a seasoned technology entrepreneur currently serving as a Director at HIVE since October 21, 2019. He also contributes to the company’s governance as a member of the Audit and Compensation Committees. | ||
Marcus New Board | Director | CEO of InvestX Capital; Managing Partner of InvestX Master GP1; Chief Compliance Officer and Ultimate Designated Person for InvestX Financial | Marcus New is the Director at HIVE Digital Technologies Ltd, having joined on March 25, 2018. He serves as Chair of the Audit Committee and brings extensive leadership experience from roles such as CEO of InvestX Capital and founder of Stockhouse Publishing. | |
Susan McGee Board | Director | Goldman Sachs BDC, Inc.; Goldman Sachs Private Middle Market Credit LLC; Goldman Sachs Private Middle Market Credit II LLC; ETTL Engineers & Consultants, Inc.; Nobul Corporation | Susan McGee has served as a Director at HIVE since December 21, 2021 and is a member of both the Audit and Governance Committees. She also holds board positions at several other companies including Goldman Sachs BDC, Inc., Goldman Sachs Private Middle Market Credit LLC, Goldman Sachs Private Middle Market Credit II LLC, ETTL Engineers & Consultants, Inc., and Nobul Corporation. | |
Nathan Fast | Director of Marketing and Branding | Nathan Fast is the Director of Marketing and Branding at HIVE Digital Technologies Ltd. He also participated as a moderator for a webcast on HIVE's financial results for the quarter ended December 31, 2024, while further details about his career background or previous roles remain unavailable. |
- Based on your strong Paraguay expansion and the 300 MW project, can you elaborate on the key operational or regulatory challenges you anticipate and how these hurdles might impact your timeline?
- With SG&A expenses expected to grow sub-linearly with revenue, what specific cost-control strategies are in place to ensure operating leverage as you scale from 6 exahash to 25 exahash?
- Regarding the Bitfarms transaction, what are the major logistical and integration risks you expect in meeting your target of 25 exahash, and how do you plan to mitigate these obstacles?
- Given your strong balance sheet and recent discussions on leverage, how do you weigh the benefits and risks of employing additional debt versus utilizing your ATM facility to finance future growth?
- In light of your recent H100 and H200 cluster deployments for the AI cloud business, what competitive challenges do you foresee in scaling this segment, and what measures are you taking to ensure sustainable revenue growth?
Research analysts who have asked questions during HIVE Digital Technologies earnings calls.
Bill Papanastasiou
Keefe, Bruyette & Woods (KBW)
5 questions for HIVE
Mike Grondahl
Lake Street Capital Markets
3 questions for HIVE
Darren Aftahi
Roth Capital Partners
2 questions for HIVE
Joseph Vafi
Canaccord Genuity - Global Capital Markets
2 questions for HIVE
Lucas Pipes
B. Riley Securities
2 questions for HIVE
Michael Colonnese
H.C. Wainwright & Co.
2 questions for HIVE
Nick Giles
B. Riley Securities
1 question for HIVE
Nick Setyan
Wedbush Securities
1 question for HIVE
Peter Sevelin
B. Riley Securities
1 question for HIVE
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Bitfarms Ltd.'s Yguazú 200-MW Hydro-Powered Facility | 2025 | HIVE Digital Technologies acquired this asset for $56 million (with $25 million payable at closing and $31 million in installments) to boost its Bitcoin mining capacity by 317%, adding two phased hashrate increments that together significantly enhance its sustainable, hydro-powered operations. |
Boden 2 Data Center (from Turis AB) | 2023 | HIVE Digital Technologies Ltd. completed the acquisition of this sustainably powered data center located in Boden, Sweden on December 7, 2023, following a property transfer agreement initiated in November 2023, to expand its operational footprint and integrate new-generation ASIC servers in alignment with ESG and community objectives. |
Recent press releases and 8-K filings for HIVE.
- HIVE Digital Technologies Ltd. has exceeded 20 Exahash per second (EH/s) in global Bitcoin mining capacity, now representing approximately 2% of the Bitcoin network.
- The company is currently mining 9 Bitcoin per day with a global fleet efficiency of 18 Joules per Terahash (J/TH) and a 55% mining margin after electricity costs.
- HIVE is progressing towards a target of 25 EH/s by U.S. Thanksgiving, with anticipated daily Bitcoin production of approximately 12 BTC upon Phase 3 completion.
- HIVE Digital Technologies Ltd. (HIVE), through its wholly-owned subsidiary BUZZ High Performance Computing (BUZZ HPC), completed the acquisition of a 7.2 megawatt (MW) data center in Toronto, Canada, on September 17, 2025.
- The acquired facility will be upgraded to Tier 3 standards to expand BUZZ's Canadian footprint for High Performance Computing (HPC) and Artificial Intelligence (AI) growth, supporting AI workloads and colocation services.
- The aggregate acquisition price for the data center was CAD$17.25 million, consisting of CAD$12 million in cash and the issuance of 1 million common shares valued at CAD$5.25 million.
- HIVE Digital Technologies Ltd. has surpassed 16 Exahash per second (EH/s) of global Bitcoin mining hashrate and is targeting 25 EH/s by U.S. Thanksgiving.
- This expansion has doubled the Company's daily Bitcoin output to above 8 BTC from May, with a projection of 12 BTC per day upon reaching 25 EH/s.
- Over 5 EH/s of next-generation Bitmain S21+ Hydro miners are already energized in Phase 2 at Yguazú, Paraguay, with deployment at the Phase 3 Valenzuela site expected to begin in September.
- The company expects to reach 18 EH/s in the coming weeks and improve global fleet efficiency to approximately 18.4 J/TH once Phase 2 at Yguazú is complete.
- BUZZ High Performance Computing (BUZZ HPC), a wholly owned subsidiary of HIVE Digital Technologies Ltd., signed a preferred partnership with Bell Canada on August 3, 2025, to deliver one of Canada's largest sovereign AI ecosystems through Bell AI Fabric.
- BUZZ HPC will provide Bell's government and enterprise customers with access to NVIDIA Ampere, NVIDIA Hopper, and NVIDIA Blackwell GPU clusters, scalable over NVIDIA Quantum-2 InfiniBand networking, ensuring data and compute infrastructure remain within Canadian-owned facilities.
- The initial infrastructure deployment will be a 5 MW deployment in Manitoba, launching later in 2025, with plans for expansion into other Bell AI Fabric data centers.
- HIVE Digital Technologies Ltd. reported a 24% month-over-month increase in Bitcoin production for July 2025, mining 203 BTC compared to 164 BTC in June.
- The company's average hashrate in July was 12.8 EH/s, reaching a peak of 15.1 EH/s, and it aims to reach 18 EH/s by the end of Summer 2025 and 25 EH/s by American Thanksgiving.
- HIVE's annualized Bitcoin mining revenue run rate has more than tripled to $315 million (unaudited) since March 31, 2025, and calendar year-to-date revenue per share increased by 65%, from $0.83 to $1.37.
- The company is funding its expansion to 25 EH/s using a Bitcoin "pledge strategy," pledging over $200 million worth of Bitcoin to equipment suppliers, which management believes avoids equity dilution or debt for this investment.
- HIVE Digital Technologies has surpassed 14 Exahash per second (EH/s) of Bitcoin mining hashrate and is on track to reach 18 EH/s by the end of summer and 25 EH/s by U.S. Thanksgiving.
- The company's current Bitcoin annual run rate (ARR) revenue is $315 million, with mining margins of approximately 55% after electricity costs.
- Daily Bitcoin production has increased to over 7 BTC and is forecasted to reach 12 Bitcoin per day by year-end.
- For its fiscal year-end on March 31, 2025, HIVE reported $105 million in Bitcoin revenue.
- Upon completing Phase 2, HIVE expects its global fleet efficiency to improve to approximately 18.5 joules per terahash (J/TH).
- On July 11, 2025, HIVE Digital Technologies Ltd. announced it exceeded 12 Exahash per second (EH/s) of global Bitcoin mining hashrate, doubling from 6 EH/s at the start of 2025.
- The company also surpassed an annualized run rate revenue of $250 million.
- This performance is attributed to the expansion in Yguazú, Paraguay, where Phase 2 is underway with 1 EH/s of next-generation Bitmain S21+ Hydro ASIC miners now hashing, with full deployment of Phase 2 expected to reach 6.5 EH/s by late August.
- HIVE remains on track to achieve 18 EH/s by summer's end (end of August 2025), at which point it expects approximately $400 million in annual run rate revenue and mining margins approaching 60% after electrical costs.
- HIVE Digital Technologies Ltd. reported an 18% increase in Bitcoin production, mining 164 BTC in June compared to May 2025, with an average daily production of 5.5 BTC/day.
- The company launched Phase 2 of its Paraguay expansion, with 0.4 EH/s already hashing, and is on track to achieve a total hashrate of 25 EH/s and a 12 BTC per day run rate by year-end.
- HIVE's average hashrate in June was 11.0 EH/s, peaking at 11.4 EH/s, and its fleet efficiency is approximately 20 J/TH.
- For the three months ended June 30, 2025, HIVE raised C$96.7 million ($70.0 million) in gross proceeds by issuing 38,109,822 common shares through an at-the-market offering.
- HIVE's subsidiary, BUZZ HPC, acquired a 7.2 MW Tier 3 data center campus in Toronto, Canada, to support up to 5,000 next-gen GPUs for AI compute.
- HIVE Digital Technologies Ltd. reported total revenue of $115.3 million for fiscal year 2025 (FY2025), with HPC/AI Cloud Revenue growing approximately 3x year-over-year to $10.1 million.
- For FY2025, the company achieved $56.2 million in Adjusted EBITDA and a US GAAP net loss of $3.0 million.
- HIVE mined 1,414 Bitcoin in FY2025, increasing its operational hashrate by 40% to 6.3 EH/s by March 31, 2025, and held 2,201 Bitcoin valued at $181.1 million in digital assets as of the fiscal year-end.
- In Q4 FY2025, total revenue was $31.2 million, with HPC revenue at a record $3.0 million, and 303 Bitcoin were mined.
- HIVE Digital Technologies Ltd. has surpassed 11 EH/s in global Bitcoin mining hashrate, achieving 11.4 EH/s, which marks the early completion of Phase 1 (100 MW) of its Yguazú site in Paraguay.
- The company is on track to reach 25 EH/s by American Thanksgiving 2025 and anticipates ramping up to 18 EH/s by late summer with the deployment of new Bitmain S21+ Hydro ASICs for Phase 2 in Paraguay.
- This expansion is fully funded and utilizes 100% renewable hydroelectricity.
- HIVE is scheduled to release its fiscal Q4 and full-year results for the period ended March 31, 2025, on Thursday, June 26, 2025, before market open.