HIVE Digital Technologies reported strong revenue and EBITDA with significant Bitcoin holdings and high ROIC. The company is expanding its operations in Paraguay and growing its AI and HPC business. However, the decreased gross mining margin and challenges from the Bitcoin halving and price volatility present concerns. Overall, the positive developments and growth plans outweigh the challenges faced.

Company Guidance

In the recent earnings call for HIVE Digital Technologies, the company provided guidance on various metrics and future growth plans. The quarter ending December 31, 2024, recorded $29 million in revenue with a gross operating margin of 21%, resulting in $17.3 million in adjusted EBITDA. HIVE's strategic expansion in Paraguay is expected to increase its mining capacity to 25 exahash by September 2025, marking a 4x growth from its current 6 exahash. This expansion aims to capture 3% of the global hashrate, potentially generating annualized mining margins between $330 million and over $500 million, depending on Bitcoin prices. Additionally, HIVE's AI and high-performance computing (HPC) business has achieved $10 million in annualized revenue, with targets set to reach $20 million. The company maintains a strong balance sheet, with 2,805 Bitcoin on the balance sheet and a focus on maintaining low SG&A costs as it scales operations.

Strong Revenue and EBITDA

HIVE reported $29 million in revenue with an adjusted EBITDA of $17.3 million for the quarter ended December 31, 2024.

Significant Bitcoin Holdings

The company holds 2,805 Bitcoin on the balance sheet, mined with green and clean energy, with no debt against these Bitcoin.

High Return on Invested Capital (ROIC)

HIVE achieved an annualized ROIC of 37% this quarter, leading the industry.

Expansion in Paraguay

HIVE announced the acquisition of Bitfarms facilities, enhancing its operating capacity in Paraguay to 300 megawatts, with plans to expand mining hashrate to 25 exahash.

AI and HPC Business Progress

HIVE hit $10 million in annualized revenue from its AI and HPC business this quarter, with plans to expand this to $20 million.

Low Dilution and Efficient Operations

HIVE has the lowest dilution across the peer set while having the highest growth in the industry, maintaining a lean operation.

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HIVE Digital Technologies (TSE:HIVE) Earnings, Revenues Date & History

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TSE:HIVE Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 19, 2025	2026 (Q1)	- / -	0.03	―	―	―
Feb 12, 2025	2025 (Q3)	-0.14 / 0.01	-0.113	112.50% (+0.13)
Nov 13, 2024	2025 (Q2)	-0.14 / -0.09	-0.411	79.31% (+0.33)
Aug 13, 2024	2025 (Q1)	>-0.01 / 0.04	-0.277	115.38% (+0.32)
Jun 24, 2024	2024 (Q4)	-0.21 / -0.04	-0.135	68.42% (+0.09)
Feb 13, 2024	2024 (Q3)	-0.33 / -0.11	-1.518	92.52% (+1.40)	―
Nov 13, 2023	2024 (Q2)	-0.28 / -0.41	-0.631	34.83% (+0.22)	―
Aug 11, 2023	2024 (Q1)	- / -	-1.14	―
Jun 30, 2023	2023 (Q4)	-0.28 / -0.28	-1.617	82.89% (+1.34)	―
Feb 21, 2023	2023 (Q3)	-1.55 / -1.52	1.135	-233.75% (-2.65)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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TSE:HIVE Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 12, 2025	C$3.92	C$3.93	+0.26%
Nov 13, 2024	C$7.35	C$6.57	-10.61%
Aug 13, 2024	C$3.83	C$3.88	+1.31%
Jun 24, 2024	C$3.98	C$4.09	+2.76%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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