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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.
| 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?
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.
- Record Achievement: The company reached an all-time high of 9.5 EH/s in Bitcoin mining, positioning itself above 1% of the global network.
- Strategic Expansion: HIVE is advancing toward its goal of 25 EH/s by 2025 through phased facility rollouts, including 100 MW hydro-powered centers in Paraguay.
- HIVE Digital Technologies Ltd. achieved a global Bitcoin mining hashrate of 8.3 EH/s, surpassing the 8 EH/s mark as a significant operational milestone.
- The company has fully funded ASIC orders for expansion to 18 EH/s by summer 2025 and is on track to reach 25 EH/s by the fourth quarter of 2025.
- The milestone was driven by the rapid deployment of a 100 MW hydro-powered facility in Yguazu, Paraguay, supporting sustainable growth and improved global fleet efficiency.
- HIVE Digital Technologies Ltd. announced an upsized ATM Program under its amended and restated prospectus supplement, allowing the sale of up to US$119,226,903 of Common Shares.
- The ATM Program supplements a previous offering that raised US$180,773,096, with net proceeds intended for general corporate purposes, working capital, operations funding, debt repayment, and future acquisitions.
- Completed 100% of Phase 1 infrastructure at its flagship 100 MW Paraguay site, supported by a fully energized 200 MW substation to enable next-generation ASIC mining capacity.
- Strategic hire announced with the appointment of Carlos Anibal Torres as Paraguay Operations & Project Manager to support rapid expansion plans.
- Energized Phase 1 operations at its 200 MW hydro-powered site in Yguazú, Paraguay, with mining initiated at an initial production rate of 100 Petahash.
- March 2025 production results show the mining of 108 Bitcoin, increasing the HODL balance to 2,201 BTC (valued at approximately $180 million at a BTC price of $82,000).
- The filing highlights a path to 4x growth, with plans to expand global mining capacity from 6 EH/s to 25 EH/s by the end of 2025.
- Acquisition Announcement: HIVE Digital Technologies completed the acquisition of Bitfarms Ltd.'s 200 MW hydro-powered facility in Paraguay, expanding its mining capacity by 317% from 6 EH/s to 25 EH/s by September 2025.
- Infrastructure Expansion: The acquisition increases HIVE’s mining infrastructure in Paraguay to 300 MW (including a 100 MW project in Valenzuela) and supports a global footprint of 430 MW by Q3 2025, emphasizing its commitment to 100% green hydroelectric energy.
- Phased Development: The newly acquired facility will be developed in two phases—with Phase 1 (adding 6 EH/s) expected by April 1, 2025 and Phase 2 (adding 6.5 EH/s) by August 31, 2025—to meet targeted operational efficiency.
- Achieved revenue of approximately $29 million, a 21% gross operating margin, and adjusted EBITDA of $17.3 million with a turnaround to a net profit of $1.3 million in Q3 2025 .
- Announced a strategic acquisition in Paraguay from Bitfarms – adding between 200-300 MW capacity to boost mining hash rate from 6 exahash to a 25 exahash target and support green/hydro-powered operations .
- Demonstrated strong operational discipline with an annualized ROIC of 37% and added 2,805 Bitcoin mined via green energy to its balance sheet .
- In January 2025, mined 102 BTC, increasing the HODL portfolio to 2,657 BTC valued at $271 million based on a closing price of roughly $102,000 per BTC .
- Maintained an average mining capacity of 5.7 EH/s with peak rates reaching 6 EH/s (BTC-only) and 6.4 EH/s (BTC-equivalent) while achieving an average daily production of 3.3 BTC .
- Strategically relocated the head office to San Antonio and transitioned to U.S. GAAP reporting for enhanced transparency in a pro-crypto regulatory environment .