HIVE Digital Technologies Ltd. is a technology company focused on building and operating data centers in Bermuda, exclusively powered by green energy. ...
HIVE Digital Technologies Ltd. is a digital-infrastructure company focused on operating data centers that support energy-intensive computing applications. Its principal activities include Bitcoin mining, provision of computational capacity to distributed blockchain networks, and the development of high-performance computing infrastructure for artificial intelligence and other advanced workloads. HIVE promotes the use ...HIVE Digital Technologies Ltd. is a digital-infrastructure company focused on operating data centers that support energy-intensive computing applications. Its principal activities include Bitcoin mining, provision of computational capacity to distributed blockchain networks, and the development of high-performance computing infrastructure for artificial intelligence and other advanced workloads. HIVE promotes the use of renewable or otherwise low-carbon electricity as a core part of its operating model, with facilities and development activities across Canada, Sweden, and Paraguay. The company has also described its infrastructure as including next-generation Tier-I and Tier-III data centers, reflecting an emphasis on reliability, availability, and scalable deployment.
The company’s Bitcoin-mining business requires substantial investments in specialized application-specific integrated circuit equipment, data-center buildings, electrical systems, cooling equipment, networking hardware, transformers, switchgear, and other supporting infrastructure. These elements form the effective bill of materials for the business, although HIVE does not publicly provide a complete product-level BOM. Its cost structure is therefore heavily influenced by electricity prices, power availability, equipment acquisition costs, facility construction, maintenance, personnel, hosting, depreciation, and the market value of mined digital assets. Transitioning portions of its infrastructure toward high-performance computing may require additional capital expenditure for advanced servers, liquid cooling, networking, storage, and increased power density.
HIVE generates revenue primarily through the sale of mined digital currencies and through data-center or computing-related services. The business is highly sensitive to Bitcoin prices, network difficulty, mining rewards, digital-asset accounting rules, foreign-exchange movements, power costs, and the availability and efficiency of mining equipment. In the supplied trailing-twelve-month data, HIVE reported approximately $777 million in market capitalization, negative net profitability, negative free cash flow, and a current ratio of approximately 1.10. These figures illustrate the capital-intensive and cyclical nature of the company rather than a stable software-style margin profile. The company reported 29 full-time employees, indicating a relatively lean corporate workforce supported by specialized infrastructure and external operational resources.
Aydin Kilic serves as President and Chief Executive Officer. HIVE was formerly known as HIVE Blockchain Technologies Ltd. and adopted its current name in July 2023 to reflect a broader focus beyond cryptocurrency mining. The modern operating company is generally associated with a 2017 founding and public-market development, although certain databases list 1987 as the incorporation year of the legal entity. HIVE’s strategic objectives include expanding renewable-powered data-center capacity, improving mining efficiency, monetizing available electrical infrastructure, and developing high-performance computing and artificial-intelligence opportunities. Its main risks include cryptocurrency volatility, regulatory changes, rapid hardware obsolescence, financing requirements, energy-market exposure, network competition, and the execution challenges associated with converting mining infrastructure into diversified computing capacity.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$297.8M
+158.3%
+7.4%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-148.4M
-4854.9%
-82.4%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
-21.0%
-196.3%
+76.6%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-40.2%
-2976.2%
+74.6%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-49.8%
-1818.1%
-69.9%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-106.9M
+32.2%
-109.7%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-35.9%
+73.8%
-95.3%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
13.4%
+9.3%
+558.8%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.10x
-70.4%
+78.0%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Nathan Fast: Hello, and welcome to today's webcast covering HIVE Digital Technologies financial results for fiscal Q1 2027. My name is Nathan Fast, Director of Marketing and Branding at HIVE, and I'll be your moderator for today's call. Before we get started on Slide 2, I'd like to briefly note the disclosures for today's presentation. Except for statements of historical fact, this presentation contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words such as expects, believes and similar expressions identify these statements. Actual results could differ materially, and we disclaim any obligation to update them, except as required by law. For a full discussion of risk factors, please refer to our most recent SEC filings at sec.gov. In addition to discussing results that are calculated in accordance with GAAP, we will also reference certain non-GAAP financial measures, including adjusted EBITDA, adjusted net income and free cash flow. Management uses these metrics to evaluate operating performance and believes they provide investors with additional insight and they're presented for supplemental purposes only and should not be considered in isolation from GAAP results. Reconciliations to the nearest GAAP measures are included in the appendix to this presentation and in the press release and Form 8-K furnished to the SEC. On the next slide, I'm pleased to introduce today's presenters: Frank Holmes, Executive Chairman; Aydin Kilic, President and CEO; and Darcy Daubaras, Chief Financial Officer. I'd now like to hand the presentation over to Mr. Frank Holmes for a macro recap of the quarter. Frank?
Frank Holmes: Thank you. And so let's do a quick macro recap of what's been affecting stock markets and HIVE stock price and valuations over this past recent quarter. Next, please. So before we jump into those granular details, it's always important to understand the DNA of volatility in every asset class has its own DNA of volatility. And this is the highlight that for especially we find so many people like to trade HIVE. It's because of that volatility. It is a nonevent over 1 day to go up or down 6% and over 10 days, 23%. You can see that it's a little more than CoreWeave. It's substantially 3x more than what Bitcoin is and 4x more what NVIDIA is when we look over 6 trading days. So it is just a factor of these macro forces pulling with these announcements from what Bitcoin is doing on a daily basis to the announcements of our AI build-out. So when we have a strong Bitcoin day and good AI sentiment, the stock has these big surges. Vice versa, a negative day in the world of AI and Bitcoin down and you get these downdrafts. These appear to be the factors driving a lot of the sentiment. The leadership team has been up here before, Aydin, CEO, best operator and I'll walk you through why in the data center business. And Craig Tavares, our superstar sovereign builder, I mean, an incredible …
