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HIVE Digital Technologies (TSE:HIVE)
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HIVE Digital Technologies (HIVE) AI Stock Analysis

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HIVE Digital Technologies

(NASDAQ:HIVE)

Rating:59Neutral
Price Target:
C$3.50
▲(3.24%Upside)
HIVE Digital Technologies' overall stock score reflects financial difficulties with declining revenues and profitability, offset by positive technical momentum and strategic corporate expansions. While corporate events and technical indicators show promise, valuation concerns and operational inefficiencies limit the overall appeal.
Positive Factors
AI and HPC Expansion
Buzz HPC is poised to capitalize on growing demand for AI compute, with plans to expand its infrastructure and hardware footprint.
Growth Targets
HIVE is fully funded to achieve near-term growth targets.
Valuation and Growth Prospects
HIVE remains one of the most undervalued miners in the sector despite compelling near-term growth prospects and upside potential from AI.
Negative Factors
Earnings Performance
Shares are currently underperforming due to a recent earnings miss.
Market Valuation
HIVE is significantly undervalued in the market, with a growing disconnect between its current valuation and the underlying business fundamentals.
Stock Performance
HIVE shares are down 22% year-to-date, significantly underperforming both crypto mining peers and the Nasdaq.

HIVE Digital Technologies (HIVE) vs. iShares MSCI Canada ETF (EWC)

HIVE Digital Technologies Business Overview & Revenue Model

Company DescriptionHIVE Digital Technologies (HIVE) is a company operating in the digital technology sector, primarily focusing on cryptocurrency mining and blockchain infrastructure. HIVE leverages green energy to power its data centers, providing high-performance computing power for blockchain networks. The company operates globally, with facilities strategically located to optimize energy efficiency and sustainability.
How the Company Makes MoneyHIVE makes money through the mining of cryptocurrencies such as Bitcoin and Ethereum, earning revenue from the rewards and transaction fees associated with validating blockchain transactions. The company also generates income by selling mined cryptocurrencies on various exchanges. Additionally, HIVE may establish partnerships with other technology firms to offer blockchain and data center services, contributing to its revenue streams. The utilization of renewable energy sources helps to reduce operational costs, enhancing profitability.

HIVE Digital Technologies Earnings Call Summary

Earnings Call Date:Jun 26, 2025
(Q4-2025)
|
% Change Since: 38.37%|
Next Earnings Date:Aug 19, 2025
Earnings Call Sentiment Neutral
HIVE Digital Technologies demonstrated strong growth in its hash rate and HPC business, with strategic leadership and community engagement efforts. However, the company faced challenges with decreased margins, a net loss in the latest quarter, and regulatory issues in Paraguay.
Q4-2025 Updates
Positive Updates
Record Exahash Growth
HIVE Digital Technologies achieved significant growth in its hash rate, surpassing 11 exahash, up from less than 4 exahash a year ago. The company plans to reach 25 exahash by Thanksgiving 2025.
HPC Business Expansion
HIVE's high-performance computing (HPC) business doubled its run rate in the past 6 months and is expected to double again. The company acquired a 7.2-megawatt data center in Toronto to support this growth.
Strong Financial Performance
The company reported $115 million in revenue for fiscal year 2025, with $56 million in adjusted EBITDA.
Positive Bitcoin Market Outlook
HIVE projects significant revenue growth with Bitcoin prices potentially reaching $150,000, leading to $700 million in annualized revenue.
Strategic Leadership and Partnerships
HIVE expanded its leadership team with key hires and formed strategic partnerships in Paraguay, leveraging green energy for its operations.
Community Engagement and Social Impact
The company has been active in community projects, including electrifying schools and lighting up streets in Valenzuela, Paraguay.
Negative Updates
Decrease in Gross Operating Margin
HIVE's gross operating margin decreased to $25.1 million in fiscal year 2025 from $37.5 million in the prior year, primarily due to the Bitcoin halving event and increased mining difficulty.
Net Loss in Q4
The company reported a net loss of $0.34 per share for the quarter ending March 31, 2025, compared to a net profit of $0.55 per share in the same quarter of the previous year.
Regulatory Challenges in Paraguay
The Paraguayan government imposed a tariff on crypto mining companies, which could impact HIVE's operations and costs in the region.
Company Guidance
During the recent earnings call for HIVE Digital Technologies, the company provided a comprehensive overview of its financial performance and future guidance. HIVE reported a total revenue of $115.3 million for the fiscal year ending March 31, 2025, with an adjusted EBITDA of $56.2 million. The company produced 1,414 Bitcoin equivalents, reflecting its strong operational execution despite the challenges posed by the Bitcoin halving event in April 2024. HIVE's strategic expansion into Paraguay has been highlighted as a key factor in its growth, with the company's hash rate increasing from 4.7 exahash to 11 exahash, aiming for 25 exahash by late 2025. The acquisition of a 7.2 megawatt data center in Toronto is set to triple the company's HPC footprint, contributing to its goal of achieving a $100 million annualized run rate in AI and HPC revenue. With a market cap of $350 million and $60 million in Bitcoin on the balance sheet, HIVE is positioned for significant growth, aiming for a fleet efficiency of 17.5 joules per terahash and a robust return on invested capital of 22%.

HIVE Digital Technologies Financial Statement Overview

Summary
HIVE Digital Technologies faces financial challenges with declining revenues, negative profitability, and high capital expenditures impacting free cash flow. Despite a solid equity base, increasing leverage and inconsistent cash flow generation present risks. Efforts are needed to stabilize revenue and manage debt.
Income Statement
45
Neutral
HIVE Digital Technologies has shown volatile revenue trends, with a significant revenue drop in recent years from $211M in 2022 to $115M in 2025, indicating challenges in maintaining growth. The company has struggled with profitability, as evidenced by negative net income in four of the last five years and a declining gross profit margin, which was negative in 2025. Despite a positive EBITDA margin in 2025, the EBIT margin remains negative, highlighting operational inefficiencies.
Balance Sheet
55
Neutral
The balance sheet shows a strong equity base, with stockholders' equity increasing to $449M in 2025. However, the debt-to-equity ratio has increased over time, suggesting rising leverage. The equity ratio is stable, reflecting a solid capital structure, though higher debt levels could pose future risks. Return on equity is negative, impacted by negative net income, which limits shareholder returns.
Cash Flow
50
Neutral
Cash flow management presents a mixed picture. Operating cash flow is positive, but the company has consistently reported negative free cash flow due to substantial capital expenditures, which could strain liquidity. The free cash flow to net income ratio is negative, indicating challenges in converting earnings into cash. Positive operating cash flow relative to net income suggests some efficiency in core operations.
BreakdownMar 2025Mar 2024Mar 2023Mar 2022Mar 2021
Income Statement
Total Revenue115.28M114.47M106.32M211.26M88.34M
Gross Profit-39.34M40.39M-30.46M96.91M60.83M
EBITDA68.39M24.48M-150.44M146.30M36.18M
Net Income-3.00M-51.20M-236.42M79.62M24.14M
Balance Sheet
Total Assets531.60M307.58M196.12M452.27M178.33M
Cash, Cash Equivalents and Short-Term Investments47.51M16.65M7.24M22.32M41.27M
Total Debt55.16M30.72M35.41M43.32M30.89M
Total Liabilities82.46M47.89M47.30M63.22M43.86M
Stockholders Equity449.14M259.69M148.82M389.05M134.47M
Cash Flow
Free Cash Flow-157.67M-65.73M1.95M-146.56M-42.29M
Operating Cash Flow16.63M13.53M44.78M68.49M22.95M
Investing Cash Flow-183.77M-78.36M-40.89M-214.19M-66.86M
Financing Cash Flow180.73M70.15M-4.64M110.77M78.29M

HIVE Digital Technologies Technical Analysis

Technical Analysis Sentiment
Positive
Last Price3.39
Price Trends
50DMA
2.75
Positive
100DMA
2.56
Positive
200DMA
3.71
Negative
Market Momentum
MACD
0.15
Negative
RSI
69.65
Neutral
STOCH
56.79
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:HIVE, the sentiment is Positive. The current price of 3.39 is above the 20-day moving average (MA) of 2.94, above the 50-day MA of 2.75, and below the 200-day MA of 3.71, indicating a neutral trend. The MACD of 0.15 indicates Negative momentum. The RSI at 69.65 is Neutral, neither overbought nor oversold. The STOCH value of 56.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:HIVE.

HIVE Digital Technologies Peers Comparison

Overall Rating
UnderperformOutperform
Sector (68)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
68
Neutral
$16.93B11.679.79%3.89%11.83%-7.56%
65
Neutral
C$340.36M111.434.09%3189.96%
59
Neutral
$726.49M-15.83%3.95%34.55%
TSNDA
56
Neutral
C$193.18M62.695.61%-9.36%
TSHUT
54
Neutral
C$3.42B3.76-6.53%15.44%-134.04%
52
Neutral
$806.14M-16.30%30.06%46.14%
52
Neutral
C$51.06M9.3342.14%109.65%-22.41%
* Financial Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TSE:HIVE
HIVE Digital Technologies
3.39
-2.53
-42.74%
TSE:BITF
Bitfarms
1.79
-1.94
-52.01%
TSE:HODL
Cypherpunk Holdings Inc
1.74
1.58
987.50%
TSE:DEFI
DeFi Technologies
0.83
0.00
0.00%
TSE:NDA
Neptune Digital Assets
1.56
1.26
420.00%
TSE:HUT
Hut 8
29.11
1.70
6.20%

HIVE Digital Technologies Corporate Events

Business Operations and StrategyFinancial Disclosures
HIVE Digital Technologies Surpasses 12 EH/s in Bitcoin Mining, Eyes Further Expansion
Positive
Jul 11, 2025

HIVE Digital Technologies has achieved a significant milestone by exceeding 12 Exahash per second in global Bitcoin mining hashrate and reaching a $250 million annualized revenue run rate. This achievement is largely due to the company’s rapid expansion in Yguazú, Paraguay, where it is constructing hydro-powered data center campuses. The expansion is expected to transform the region into a hub for Bitcoin innovation and renewable infrastructure, creating jobs and setting a global benchmark for sustainability in digital asset mining. HIVE aims to further increase its hashrate to 18 EH/s by the end of summer and 25 EH/s by Thanksgiving 2025, with anticipated revenue run rates of $400 million and expanding mining margins.

The most recent analyst rating on (TSE:HIVE) stock is a Buy with a C$6.00 price target. To see the full list of analyst forecasts on HIVE Digital Technologies stock, see the TSE:HIVE Stock Forecast page.

Product-Related AnnouncementsPrivate Placements and FinancingBusiness Operations and Strategy
HIVE Digital Technologies Boosts Bitcoin Production and Expands AI Infrastructure
Positive
Jul 8, 2025

HIVE Digital Technologies has announced an 18% increase in Bitcoin production in June, attributed to its expansion in Paraguay. The company is on track to achieve a production target of 12 Bitcoin per day by the end of the year, with plans to scale up to 25 EH/s by American Thanksgiving. The launch of Phase 2 at its hydro-powered facility in Paraguay is expected to further enhance production efficiency and capacity. Additionally, HIVE’s subsidiary, BUZZ High Performance Computing Inc., is expanding its AI infrastructure in Canada, positioning itself as a key player in the country’s AI sector. The company has also strengthened its capital position through a successful equity program.

The most recent analyst rating on (TSE:HIVE) stock is a Buy with a C$7.50 price target. To see the full list of analyst forecasts on HIVE Digital Technologies stock, see the TSE:HIVE Stock Forecast page.

Business Operations and StrategyFinancial Disclosures
HIVE Digital Technologies Reports Strong FY2025 Revenue and Strategic Expansion
Positive
Jun 26, 2025

HIVE Digital Technologies reported a total revenue of $115.3 million for FY2025, with significant growth in AI GPU revenue and a notable increase in Bitcoin mining capacity. Despite a net loss of $3.0 million, the company achieved a 40% increase in operational hashrate and expanded its infrastructure in Paraguay, positioning itself for future growth in both the mining and HPC sectors.

The most recent analyst rating on (TSE:HIVE) stock is a Buy with a C$7.50 price target. To see the full list of analyst forecasts on HIVE Digital Technologies stock, see the TSE:HIVE Stock Forecast page.

Product-Related AnnouncementsBusiness Operations and Strategy
BUZZ HPC Expands AI Capabilities with New NVIDIA Hopper GPU Cluster
Positive
Jun 24, 2025

BUZZ High Performance Computing, a subsidiary of HIVE Digital Technologies, has launched a new NVIDIA Hopper GPU cluster in Quebec, enhancing its position as a leading Canadian sovereign AI cloud provider. This expansion reflects growing demand for domestic AI capacity and supports sectors such as generative AI, autonomous systems, and genomic medicine. The company is committed to fostering innovation by offering free and subsidized HPC credits to Canadian entities, thereby reducing barriers to accessing advanced computing power.

The most recent analyst rating on (TSE:HIVE) stock is a Buy with a C$7.50 price target. To see the full list of analyst forecasts on HIVE Digital Technologies stock, see the TSE:HIVE Stock Forecast page.

M&A TransactionsBusiness Operations and Strategy
HIVE Digital Technologies Acquires Toronto Data Center to Boost AI and HPC Infrastructure
Positive
Jun 23, 2025

HIVE Digital Technologies has announced the acquisition of a 7.2 MW data center in Toronto, marking a significant step in its strategy to enhance high-performance computing infrastructure and develop a sovereign Canadian AI ecosystem through its subsidiary, BUZZ HPC. This acquisition positions BUZZ HPC as a leader in Canada’s digital infrastructure, enabling the deployment of advanced compute infrastructure to support AI workloads for Canadian enterprises and government initiatives. The move aligns with HIVE’s commitment to sustainable digital infrastructure and positions the company to lead in the next-generation AI and HPC data center industry.

The most recent analyst rating on (TSE:HIVE) stock is a Buy with a C$7.50 price target. To see the full list of analyst forecasts on HIVE Digital Technologies stock, see the TSE:HIVE Stock Forecast page.

Business Operations and Strategy
HIVE Digital Technologies Surpasses Bitcoin Mining Milestone with Sustainable Expansion in Paraguay
Positive
Jun 20, 2025

HIVE Digital Technologies has achieved a significant milestone by surpassing 11 Exahash per second (EH/s) in Bitcoin mining hashrate, completing Phase 1 of its Yguazú site in Paraguay ahead of schedule. This expansion, powered by 100% renewable hydroelectricity, aligns with HIVE’s commitment to sustainable growth and positions the company to reach 25 EH/s by Thanksgiving 2025. The project not only enhances HIVE’s operational capacity but also contributes to local communities by creating jobs, improving infrastructure, and supporting economic stability.

The most recent analyst rating on (TSE:HIVE) stock is a Buy with a C$7.50 price target. To see the full list of analyst forecasts on HIVE Digital Technologies stock, see the TSE:HIVE Stock Forecast page.

Financial Disclosures
HIVE Digital Technologies to Announce Fiscal Year 2025 Financial Results
Neutral
Jun 16, 2025

HIVE Digital Technologies announced it will release its financial results for fiscal Q4 and the full year ending March 31, 2025, on June 26, 2025. The release will be followed by an earnings conference call and webcast, highlighting the company’s commitment to transparency and stakeholder engagement.

The most recent analyst rating on (TSE:HIVE) stock is a Buy with a C$7.50 price target. To see the full list of analyst forecasts on HIVE Digital Technologies stock, see the TSE:HIVE Stock Forecast page.

Product-Related AnnouncementsBusiness Operations and Strategy
HIVE Digital Technologies Surpasses 10 EH/s in Bitcoin Mining, Targets 25 EH/s by Year-End
Positive
Jun 6, 2025

HIVE Digital Technologies has achieved a significant milestone by surpassing 10 Exahash per second in Bitcoin mining capacity, marking a 58% increase in peak hashrate within a month. This growth is attributed to the energization of its 100 MW hydro-powered facility in Paraguay, reinforcing its position as a leader in sustainable and efficient Bitcoin mining. The company aims to reach 25 EH/s by the end of 2025, which is expected to enhance daily Bitcoin production and reduce costs, positioning HIVE as a formidable player in the digital infrastructure industry.

The most recent analyst rating on (TSE:HIVE) stock is a Buy with a C$7.50 price target. To see the full list of analyst forecasts on HIVE Digital Technologies stock, see the TSE:HIVE Stock Forecast page.

Business Operations and StrategyFinancial Disclosures
HIVE Digital Technologies Surpasses Milestones in Bitcoin Mining and GPU Cloud Growth
Positive
May 28, 2025

HIVE Digital Technologies has achieved a significant milestone by surpassing 10 Exahash per second (EH/s) in Bitcoin mining hashrate, with plans to reach 11.5 EH/s by June 2025. This growth is part of a strategic expansion towards a target of 25 EH/s by Q4 2025, fully funded and ahead of schedule. Additionally, HIVE’s subsidiary, Buzz HPC, has exceeded expectations by achieving a $20 million annualized run-rate revenue in its GPU cloud business, reinforcing its position as a leader in GPU cloud infrastructure.

The most recent analyst rating on (TSE:HIVE) stock is a Buy with a C$7.50 price target. To see the full list of analyst forecasts on HIVE Digital Technologies stock, see the TSE:HIVE Stock Forecast page.

Business Operations and Strategy
HIVE Digital Technologies Achieves Record Bitcoin Mining Milestone
Positive
May 22, 2025

HIVE Digital Technologies has achieved a record 9.5 EH/s in Bitcoin mining hashrate, marking a significant milestone in its growth strategy. This positions the company above 1% of the global Bitcoin network and reflects its commitment to sustainable growth and shareholder value. The company plans to expand further, aiming for 25 EH/s by the end of 2025, with new facilities in Paraguay enhancing its capacity and efficiency.

The most recent analyst rating on (TSE:HIVE) stock is a Buy with a C$7.50 price target. To see the full list of analyst forecasts on HIVE Digital Technologies stock, see the TSE:HIVE Stock Forecast page.

Business Operations and Strategy
HIVE Digital Technologies Accelerates Bitcoin Mining Expansion
Positive
May 15, 2025

HIVE Digital Technologies has surpassed 8.3 EH/s in Bitcoin mining hashrate, driven by its new hydro-powered facility in Paraguay, and is on track to reach 11.5 EH/s by June 2025. The company plans to expand to 25 EH/s by the end of 2025, leveraging its Bitcoin treasury to fund ASIC orders without significant cash outlay, aiming to enhance operational efficiency and reduce production costs.

The most recent analyst rating on (TSE:HIVE) stock is a Buy with a C$7.50 price target. To see the full list of analyst forecasts on HIVE Digital Technologies stock, see the TSE:HIVE Stock Forecast page.

Private Placements and FinancingBusiness Operations and Strategy
HIVE Digital Technologies Expands Financial Flexibility with Upsized ATM Program
Positive
May 14, 2025

HIVE Digital Technologies Ltd. has announced an amended and restated equity distribution agreement, allowing the company to sell up to US$119,226,903 of common shares through an at-the-market (ATM) program. This move provides HIVE with financial flexibility to support general corporate needs, fund ongoing operations, repay debt, and potentially pursue future acquisitions, reflecting its strategic focus on maintaining a strong market position in sustainable digital infrastructure.

The most recent analyst rating on (TSE:HIVE) stock is a Buy with a C$7.50 price target. To see the full list of analyst forecasts on HIVE Digital Technologies stock, see the TSE:HIVE Stock Forecast page.

Business Operations and Strategy
HIVE Digital Technologies Expands Bitcoin Mining Operations in Paraguay
Positive
May 9, 2025

HIVE Digital Technologies has announced significant growth in its Bitcoin mining operations, particularly in Paraguay, where it has surpassed a global hashrate of 7 EH/s, marking a 10% increase. The company is on track to reach 11.5 EH/s by June 2025, with further expansions planned to achieve 18 EH/s by the end of summer. This expansion is supported by the acquisition of Bitfarms’ assets and the deployment of new ASIC miners, positioning HIVE as a major player in the Bitcoin mining industry. The company’s strategic use of hydroelectric power and efficient capital allocation are expected to enhance its production capabilities and market position.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jul 23, 2025