HIVE
HIVE Digital Technologies Ltd.

HIVE Digital Technologies Ltd.HIVE

Financial Services · Capital Markets
3.54USD
+1.72%
Sep 23, 2026
HIVE overview ready
Public Bitcoin Miner Driving Hashrate Expansion Through Energy-Focused Infrastructure
HIVE is primarily a publicly traded Bitcoin miner and operator of energy-focused digital-infrastructure sites.
Narrative not measured
Institutionalization of Bitcoin and Digital-Asset InfrastructurePublic Bitcoin Mining and Hashrate ExpansionPure play
Advancing price action
Longer-term context reads early trend, with a near-term setup of daily advance.
Demanding valuation
The price embeds expectations that run ahead of what comparable businesses command.
Solid fundamentals
Free cash flow yield is strong.
Primary risk
Volatility in digital currency prices.
Market Sep 22Price action Sep 22Research Jul 16

Conviction Level

Theme Heat has no canonical measurement for this company — a research-profile dimension, not an input to this score.

NarrativeHeat—ThemeHeat—PriceAction8.6Valuation3.4CompanyPosition7.3
Price
Loading price history…

Price Action

Advancing price action
Longer-term context reads early trend, with a near-term setup of daily advance.
EntryBreakout + retest

Price broke through the weekly SMA200, then retested it constructively and recovered — a fresh structural entry rather than a chase.

Key Financials

Market Cap
$924.1M
Avg Volume (60D)
19.2M
60 sessions
Revenue Growth YoY
+157.5%
Trailing twelve months
Gross Margin
+35.1%
Operating Margin
-44.0%
Trailing twelve months
Free Cash Flow Yield
+15.2%
Distance from 200DMA
+22.0%
Next Earnings
2026-11-12
EV / EBITDA
30.0x
EV / Sales
3.2x
Market metrics as of Sep 22, 2026

Fundamentals & Valuation

The available comparisons disagreed; the intrinsic comparison is the more reliable method for this business and the others are published as dissent.
HIVE Digital Technologies Ltd. has an Expensive valuation stance because the price embeds expectations that run ahead of what comparable businesses command. It trades at 3.2x revenue, which requires sustained delivery to be justified.

Company Research

Thesis
HIVE is primarily a publicly traded Bitcoin miner and operator of energy-focused digital-infrastructure sites. Its economics are directly tied to Bitcoin production, realized Bitcoin prices, mining difficulty, fleet efficiency, uptime, and power costs.
Opportunity
Moderate opportunity
Bitcoin price, network economics, institutional participation, and demand for digital-asset infrastructure drive capital deployment into efficient mining fleets, energy-backed data centers, and hashrate capacity.
Key risk
Volatility in digital currency prices.

Narrative & Theme

Institutionalization of Bitcoin and Digital-Asset Infrastructure
Part of Public Bitcoin Mining and Hashrate Expansion, with moderate fit.
HIVE has a genuine direct exposure to the public Bitcoin-mining/hashrate theme, which is not represented in the active narrative set.
Narrative HeatCooling4.3 / 10
This reading is no longer current (last measured 2026-08-14). It is kept until the next scheduled measurement replaces it.
Theme HeatUnavailable

Business & Markets

Financial Services · Capital Markets
What they do

HIVE Digital Technologies Ltd. builds and operates green energy-powered data centers in multiple countries to mine and sell digital currencies and provide performance computing hosting and blockchain infrastructure solutions.

How it earns

The company generates revenue primarily through the mining and sale of digital currencies and by offering computational capacity hosting services.

Products & services
Digital currency mining
Performance computing hosting
Blockchain infrastructure solutions
Customers & end markets
Cryptocurrency markets
Blockchain network operators
Market position

Niche player focused on green energy-powered cryptocurrency mining and blockchain infrastructure.

Demand drivers
High cyclicality

Due to dependence on volatile digital currency prices and blockchain industry demand.