HIVE Digital Technologies Ltd. HIVE
HIVE Digital Technologies Ltd. is a sustainable-energy focused digital infrastructure company. Our business model consists of using cash-flow generated from our established hashrate services business to support our ongoing AI and HPC business expansion that is primarily being undertaken through our subsidiary, BUZZ High Performance Computing Inc. ("BUZZ" or "BUZZ HPC"). The Company leverages its existing footprint of Tier-I data centers, initially optimized for energy-efficient mining, to secure low-cost power, grid access, and operational scale, then incrementally upgrades these assets to Tier-III, enterprise-grade AI infrastructure capable of supporting high-density GPU workloads, liquid cooling, and mission-critical uptime. Through BUZZ HPC, HIVE is positioning itself as a sovereign AI provider, offering domestically controlled, regulation-aligned compute infrastructure tailored to governments, enterprises, and research institutions, particularly in Canada. Its geographic strategy focuses on energy-advantaged regions such as Canada, Sweden, and Paraguay, where abundant, low-cost renewable power enables both immediate monetization and long-term scalability. By converting energy access into increasingly valuable compute capacity, HIVE is transitioning from a traditional hashrate service provider into a vertically integrated, capital-efficient AI infrastructure platform aligned with global trends in AI demand, data localization, and power-constrained data center development.
Valuation FY2026 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by segment
- Revenue from digital currency mining
- High performance computing hosting
| Segment | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Revenue from digital currency mining | $278.3M | $105.2M | $111.0M |
| High performance computing hosting | $19.5M | $10.0M | $3.4M |
As the company reported it, from the “Segmented Information - Schedule of external revenues by geographical location (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $297.8M | $115.3M | $114.5M | $106.3M | $211.2M | $67.7M | $29.2M | — |
| Gross profit | — | -$62.5M | -$39.3M | -$26.1M | — | — | — | — | — |
| SG&A | — | $31.4M | $16.6M | $13.2M | — | — | — | — | — |
| Total operating expenses | — | $57.2M | $32.6M | $18.4M | — | — | — | — | — |
| Interest expense | — | $628.0K | $414.0K | $397.0K | — | — | — | — | — |
| Pre-tax income | — | -$144.6M | $1.6M | $32.7M | — | — | — | — | — |
| Income tax | — | $3.9M | $4.6M | $6.2M | — | — | — | — | — |
| Net income | — | -$148.4M | -$3.0M | $26.5M | -$236.4M | $79.6M | $24.1M | -$1.7M | — |
| EPS, basic | — | -0.66 | -0.02 | 0.29 | — | — | — | — | — |
| EPS, diluted | — | -0.66 | -0.02 | 0.29 | — | — | — | — | — |
| Shares, diluted (wtd. avg.) | — | 225.4M | 127.9M | 90.0M | — | — | — | — | — |
Balance sheet
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | — | $23.1M | $23.4M | $9.7M | $4.4M | — | — | — | — |
| Receivables | — | $15.6M | $11.8M | $6.9M | — | — | — | — | — |
| Total current assets | — | $59.8M | $241.7M | $185.2M | — | — | — | — | — |
| Property, plant and equipment | — | $480.5M | $202.8M | $95.4M | — | — | — | — | — |
| Total assets | — | $639.1M | $531.6M | $306.7M | $196.1M | $452.3M | $178.3M | $29.1M | — |
| Accounts payable | — | $10.7M | $11.7M | $7.5M | — | — | — | — | — |
| Short-term debt | — | $2.0M | $3.6M | $5.6M | — | — | — | — | — |
| Total current liabilities | — | $54.4M | $66.0M | $27.1M | — | — | — | — | — |
| Total liabilities | — | $109.8M | $82.5M | $47.3M | — | — | — | — | — |
| Retained earnings | — | -$422.3M | -$273.9M | -$270.9M | — | — | — | — | — |
| Total equity | — | $529.4M | $449.1M | $259.4M | $148.1M | $389.1M | $128.2M | $21.1M | $21.9M |
Cash flow
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | — | $62.3M | $16.6M | $9.6M | — | — | — | — | — |
| Depreciation and amortisation | — | $170.4M | $64.5M | $63.6M | — | — | — | — | — |
| Stock-based compensation | — | $25.5M | $10.9M | $7.2M | — | — | — | — | — |
| Investing cash flow | — | -$222.9M | -$183.8M | -$77.3M | — | — | — | — | — |
| Financing cash flow | — | $159.9M | $180.7M | $73.0M | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001062993-26-003909.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $29.2M | $67.7M | $211.2M | $106.3M | $114.5M | $115.3M | $297.8M | — |
| Gross profit | — | — | — | — | — | -$26.1M | -$39.3M | -$62.5M | — |
| Net income | — | -$1.7M | $24.1M | $79.6M | -$236.4M | $26.5M | -$3.0M | -$148.4M | — |
Recent filings and events
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Other event Item 8.01
- Regulation FD disclosure Item 7.01
- Other event Item 8.01
- Other event Item 8.01
- Material agreement signed Item 1.01
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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