HIVE Digital Technologies (HIVE) AI Stock Analysis

• Market Cap: C$682.97M
• Dividend Yield: N/A
• Average Volume (3M): 1.70M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.70
• Revenue Growth: 60.71%
• EPS Growth: -52.29%
• Country: CA
• Employees: 20
• Sector: Financial
• Sector Strength: 70
• Industry: Information Technology Services
• EPS (TTM): -0.52
• Shares Outstanding: 237,967,000
• 10 Day Avg. Volume: 1,475,916
• 30 Day Avg. Volume: 1,698,814
• PEG Ratio: 0.65
• Price to Book (P/B): 0.42
• Price to Sales (P/S): 1.62
• P/FCF Ratio: -1.18
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$8.79
• Price Target Upside: 206.21% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 8
• EPS Forecast (FY): -0.48
• Revenue Forecast (FY): C$309.78M

• Rating: 49 Neutral
• Price Target: C$3.00 ▲(4.53% Upside)
• Action: Reiterated Date: 02/18/26
• Date: Action: Reiterated 02/18/26

Overall score reflects a solid balance sheet and growth trajectory (including upbeat HPC/GPU guidance), offset by weak/volatile profitability with deeply negative free cash flow and a clearly bearish technical setup (price below all key moving averages with negative momentum indicators).

Positive Factors

Conservative Balance Sheet

Very low leverage provides durable financial flexibility: with minimal debt relative to equity HIVE can fund operating variability, pursue opportunistic ASIC/GPU purchases or weather crypto cycles without forcing distress sales, supporting long-term survival and strategic optionality.

GPU/HPC Contract Traction

Meaningful contract wins and a clear GPU scale plan materially diversify revenue away from cyclical mining. Lease-to-own financing and initial contract pricing above forecasts increase revenue visibility and allow capex-light expansion, improving recurring ARR potential and lowering crypto-only earnings sensitivity.

Rapid Mining Scale and Revenue Growth

Large increases in hashrate and record revenue demonstrate operational scale economies: expanding to 25 EH and higher throughput increases coin production and operating margin potential, strengthening the company's cash-generating engine over the medium term if mining economics remain adequate.

Negative Factors

Deeply Negative Free Cash Flow

Persistently negative free cash flow indicates growth is not yet self-financing and requires external funding or asset sales. Over months, sustained negative FCF elevates liquidity risk, limits reinvestment optionality and increases reliance on balance sheet actions or dilutive financing to fund capex and GPU conversions.

Earnings Volatility & GAAP Losses

Large non‑cash charges and swingy digital asset mark‑to‑market drive headline losses and uneven adjusted metrics. This persistent volatility complicates forecasting, weakens earnings quality, and can impair investor confidence and access to non‑dilutive capital during adverse crypto cycles or accounting windows.

Crypto Sensitivity & Operational Constraints

Business economics hinge on crypto prices, network difficulty and regulatory clarity; combined with long lead times for critical infrastructure, this raises structural timing risk. Delays in conversions or regulatory actions can slow BUZZ ramp and compress margins, making growth timelines uncertain.

HIVE Digital Technologies Business Overview & Revenue Model

Company Description

HIVE Blockchain Technologies Ltd. operates as a cryptocurrency mining company in Canada, Sweden, and Iceland. It engages in the mining and sale of digital currencies, including Ethereum, Ethereum Classic, and Bitcoin. The company was formerly known as Leeta Gold Corp. and changed its name to HIVE Blockchain Technologies Ltd. in September 2017. HIVE Blockchain Technologies Ltd. was incorporated in 1987 and is headquartered in Vancouver, Canada.

How the Company Makes Money

HIVE generates revenue primarily through a subscription-based model for its cloud services, which includes tiered pricing based on usage and features. Additionally, the company earns revenue from one-time project fees for custom software development and consulting services. Key revenue streams also include licensing fees for their proprietary AI analytics tools and managed services contracts with enterprise clients. Significant partnerships with major cloud providers and technology firms further bolster HIVE's earnings by expanding its market reach and enhancing its service offerings.

HIVE Digital Technologies Financial Statement Overview

Summary

Mixed fundamentals: strong TTM revenue growth (+33.2%) and a very low-leverage balance sheet (debt-to-equity ~0.04x) are positives, but profitability remains weak (TTM net loss) and free cash flow is deeply negative (~-$121.5M), with high multi-year earnings volatility.

Income Statement

TTM (Trailing-Twelve-Months) revenue grew strongly (+33.2%), but profitability remains weak with a net loss (-$73.4M) and negative EBIT margin despite a high EBITDA margin. Results have been highly volatile over the last few years (from strong profitability in 2021–2022 to deep losses in 2023–2025), which lowers confidence in earnings quality and durability.

Balance Sheet

The balance sheet looks conservatively levered: TTM (Trailing-Twelve-Months) total debt is modest (~$19.8M) against a large equity base (~$558.3M), resulting in very low debt-to-equity (~0.04x). Asset base and equity have grown versus prior years, providing financial flexibility, though returns are still relatively low and profitability volatility is a key risk to sustaining equity value.

Cash Flow

TTM (Trailing-Twelve-Months) operating cash flow is positive (~$86.2M), but free cash flow is deeply negative (~-$121.5M) and has worsened (free cash flow growth -37.9%), implying heavy reinvestment/capex and/or working-capital drag. Cash generation is therefore not yet translating into self-funded growth, increasing reliance on liquidity management despite the low debt load.

Breakdown	TTM	Mar 2025	Mar 2024	Jun 2023	Jun 2022	Jun 2021
Income Statement
Total Revenue	259.33M	115.28M	114.47M	106.32M	211.26M	88.34M
Gross Profit	2.06M	-39.34M	40.39M	-30.46M	96.91M	60.83M
EBITDA	125.57M	68.39M	24.48M	-150.44M	153.07M	36.18M
Net Income	-73.37M	-3.00M	-51.20M	-236.42M	79.62M	24.14M
Balance Sheet
Total Assets	622.86M	531.60M	307.58M	196.12M	452.27M	178.33M
Cash, Cash Equivalents and Short-Term Investments	68.17M	47.51M	16.65M	7.24M	22.32M	41.27M
Total Debt	19.80M	55.16M	30.72M	35.41M	43.32M	30.89M
Total Liabilities	64.61M	82.46M	47.89M	47.30M	63.22M	43.86M
Stockholders Equity	558.25M	449.14M	259.69M	148.82M	389.05M	134.47M
Cash Flow
Free Cash Flow	-121.49M	-157.67M	-65.73M	1.95M	-146.56M	-42.29M
Operating Cash Flow	86.24M	16.63M	13.53M	44.78M	68.49M	22.95M
Investing Cash Flow	-270.15M	-183.77M	-78.36M	-40.89M	-214.19M	-66.86M
Financing Cash Flow	187.42M	180.73M	70.15M	-4.64M	110.77M	78.29M

HIVE Digital Technologies Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.87
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:HIVE, the sentiment is Negative. The current price of 2.87 is below the 20-day moving average (MA) of 3.02, below the 50-day MA of 3.69, and below the 200-day MA of 4.21, indicating a bearish trend. The MACD of -0.24 indicates Negative momentum. The RSI at 37.86 is Neutral, neither overbought nor oversold. The STOCH value of 44.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:HIVE.

HIVE Digital Technologies Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
HIVE	49 Neutral	C$682.97M	―	-25.17%	―	60.71%	-52.29%
PBIT	45 Neutral	C$8.92M	-3.42	-540.25%	―	-33.97%	59.10%
WBG	42 Neutral	C$1.43M	-4.42	―	―	―	60.00%

HIVE Digital Technologies Corporate Events

HIVE’s BUZZ Unit Lands $30 Million in AI Cloud Deals to Drive Tier-III HPC Expansion

HIVE Digital Technologies’ BUZZ high-performance computing unit has signed approximately $30 million in AI cloud customer contracts over two-year terms, supporting the first phase of an AI-optimized GPU deployment at its Canada West Tier-III data center in Manitoba. This initial buildout, centered on 504 liquid-cooled Dell server-based GPUs, is expected to come online by the March 31, 2026 quarter and generate about $15 million in annual recurring revenue for BUZZ once fully operational.

Management expects these contracts to lift HIVE’s total annualized HPC revenue from roughly $20 million to about $35 million as BUZZ’s cloud platform scales, backed by vendor financing and strategic Tier-III partnerships to reduce upfront capital intensity. The company plans continued capital investment in GPUs, power and cooling infrastructure, and operations as it pursues broader GPU AI cloud growth, positioning HIVE as a twin-engine provider of both hashrate services and high-performance computing in the evolving digital infrastructure market.

The most recent analyst rating on (TSE:HIVE) stock is a Hold with a C$3.50 price target. To see the full list of analyst forecasts on HIVE Digital Technologies stock, see the TSE:HIVE Stock Forecast page.

HIVE Digital Sets February 17 Date for Fiscal Q3 2026 Results and Earnings Call

HIVE Digital Technologies will release its financial results for the nine months ended December 31, 2025, on February 17, 2026, followed by an earnings conference call and webcast at 8:00 a.m. EST the same day. The earnings release and a replay of the call will be made available on the company’s investor relations website, offering shareholders and analysts fresh insight into the performance of its renewable-powered Bitcoin mining and AI infrastructure operations.

The scheduled disclosure underscores HIVE’s effort to maintain visibility in public markets across multiple exchanges while it scales green energy data centers in Canada, Sweden, and Paraguay. Regular, accessible financial communications are key for investors tracking the company’s execution in the competitive digital asset and high-performance computing sectors, where capital allocation, operational efficiency, and energy strategy can materially affect long-term positioning.

The most recent analyst rating on (TSE:HIVE) stock is a Hold with a C$3.50 price target. To see the full list of analyst forecasts on HIVE Digital Technologies stock, see the TSE:HIVE Stock Forecast page.

HIVE Digital Posts 290% Hashrate Surge as Green-Powered Mining Footprint Expands

HIVE Digital Technologies reported strong January 2026 Bitcoin production, with output rising 191% year-over-year to 297 BTC and average hashrate surging 290% to 22.2 EH/s, maintaining more than 2% of the global Bitcoin network share. The company highlighted its resilient, globally distributed operations, including flagship facilities in Paraguay, and continued investments in efficiency through the deployment of new Bitmain S21 XP ASIC miners expected to lift installed hashrate to 25.5 EH/s and improve fleet efficiency to 17 J/TH, while its risk-managed Bitcoin pledge structure and expanding 540 MW green energy portfolio underscore a strategy aimed at scaling profitably and reinforcing its position as a leading, renewable-powered player in digital infrastructure.

The most recent analyst rating on (TSE:HIVE) stock is a Hold with a C$3.00 price target. To see the full list of analyst forecasts on HIVE Digital Technologies stock, see the TSE:HIVE Stock Forecast page.

HIVE Digital Pushes Into Paraguay With New AI Cloud Platform and Tier III Data Center

HIVE Digital Technologies is expanding its footprint in Paraguay through a strategic joint venture with the country’s largest telecommunications operator to launch one of the first purpose-built AI BUZZ Cloud platforms in Asunción, hosted in a Tier III data center. The initial rollout, slated to begin in the first quarter of 2026, will feature an enterprise-grade GPU cluster for AI training, inference and data-intensive workloads, with plans to scale based on demand and capital availability, leveraging Paraguay’s renewable hydroelectric power and national fiber network. Building on its existing Tier I data centers and substations developed for Bitcoin mining, HIVE is executing a phased strategy to evolve this energy-based infrastructure into higher-tier, AI-ready facilities, positioning Paraguay as an emerging hub for advanced digital infrastructure similar to development patterns seen in Texas and potentially fostering local economic growth and high-skilled tech employment.

The most recent analyst rating on (TSE:HIVE) stock is a Buy with a C$6.50 price target. To see the full list of analyst forecasts on HIVE Digital Technologies stock, see the TSE:HIVE Stock Forecast page.

HIVE Digital Lifts Bitcoin Output and Expands Green Data Centre Capacity

HIVE Digital Technologies reported robust Bitcoin production for December 2025, generating 306 BTC—up 197% year over year—and averaging 23.3 EH/s in hashrate while maintaining over 2% of the global Bitcoin network despite higher mining difficulty and weather-related disruptions. For full-year 2025, output rose 31% to 2,311 BTC even as network difficulty hit record highs, and the company outlined plans to add 100 MW of hydro-powered data centre capacity in Paraguay by Q3 2026, which will expand its renewable energy footprint to about 540 MW and reinforce its positioning as a scale green-energy miner and AI infrastructure provider with a geographically diversified, resilient operating platform.

The most recent analyst rating on (TSE:HIVE) stock is a Buy with a C$6.50 price target. To see the full list of analyst forecasts on HIVE Digital Technologies stock, see the TSE:HIVE Stock Forecast page.

HIVE Digital Technologies Expands into Colombian Capital Markets

HIVE Digital Technologies has announced its listing on the Colombian Stock Exchange, marking its entry into Colombia’s deep Andean capital markets. This move positions HIVE as the first Bitcoin-and-AI infrastructure company to list in Colombia, enhancing its visibility among investors interested in sustainable computing and reinforcing its role as a leader in renewable-powered data centers. The listing aligns with Colombia’s growing status as a regional technology hub and offers HIVE a strategic inflection point to access interconnected Andean exchanges, thereby expanding its capital market channels and commitment to sustainable digital infrastructure.

The most recent analyst rating on (TSE:HIVE) stock is a Hold with a C$4.50 price target. To see the full list of analyst forecasts on HIVE Digital Technologies stock, see the TSE:HIVE Stock Forecast page.

HIVE Digital Technologies Expands into Colombian Market with New Stock Exchange Listing

HIVE Digital Technologies has announced its listing on the Colombian Stock Exchange, marking its entry into Colombia’s capital markets and reinforcing its position as a leader in green AI and Bitcoin infrastructure in Latin America. This move enhances HIVE’s visibility among investors and aligns with Colombia’s growth as a regional technology hub. The company is transitioning from Bitcoin mining to advanced AI and HPC cloud infrastructure, leveraging renewable energy sources to expand its market and accelerate revenue from enterprise AI and HPC customers.

The most recent analyst rating on (TSE:HIVE) stock is a Hold with a C$4.50 price target. To see the full list of analyst forecasts on HIVE Digital Technologies stock, see the TSE:HIVE Stock Forecast page.

HIVE Digital Technologies Reports Record Bitcoin Production and Expands AI Infrastructure

HIVE Digital Technologies announced a significant increase in its Bitcoin production, achieving a year-to-date high of 290 BTC in November 2025, supported by a 25 EH/s global mining capacity. The company has fully deployed its 300 MW capacity in Paraguay and plans further expansion with an additional 100 MW hydroelectric-powered data center. HIVE is also advancing its AI and HPC infrastructure, with its subsidiary BUZZ HPC leading in network download speed, positioning the company at the forefront of green-energy AI infrastructure.

The most recent analyst rating on (TSE:HIVE) stock is a Hold with a C$4.50 price target. To see the full list of analyst forecasts on HIVE Digital Technologies stock, see the TSE:HIVE Stock Forecast page.

HIVE Digital Technologies Launches $300 Million ATM Equity Program

HIVE Digital Technologies Ltd. has announced an equity distribution agreement to launch an ‘at-the-market’ equity program, allowing the company to sell up to US$300 million of its common shares. This strategic move is expected to enhance HIVE’s financial flexibility and support its growth initiatives in the sustainable data center infrastructure sector, potentially impacting its market position and stakeholder interests.

The most recent analyst rating on (TSE:HIVE) stock is a Hold with a C$4.00 price target. To see the full list of analyst forecasts on HIVE Digital Technologies stock, see the TSE:HIVE Stock Forecast page.