HIVE Digital Technologies

HIVE

Information Technology Services · Technology

Price

$3.03

-0.10 (-3.19%)

Market Cap

$829.1M

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Mixed

Valuation

Data not available

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Share count rising — dilution

+165.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 84.8M (2022) → 225.4M (2026)

Winston Score History

The full picture

HIVE Digital Technologies is a company that mines cryptocurrency and runs data centers for artificial intelligence computing. It earns Bitcoin and Ethereum by using powerful computers to solve complex math problems that keep those blockchain networks running. The company also rents out computing power to businesses that need it for AI and machine learning tasks.

HIVE makes money by selling the cryptocurrency it mines and by charging fees for GPU-based cloud computing services. It operates data centers in Canada, Sweden, and Iceland, taking advantage of cheap, renewable electricity in those regions to keep costs down. The company is relatively small with a market cap around $0.8 billion, and its main competitive edge is access to low-cost green energy. However, the negative gross and operating margins show the business is currently spending more than it earns, and profitability depends heavily on cryptocurrency prices — a major ongoing risk.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+69.1% YoY

YoY Growth Rate

Strong revenue growth

EPS Growth

-384.2% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (15%)

Research and development spending

Insider Activity

3.4%ownership

↑ Rising

Insiders increasing their stake — aligned with shareholders

Cash Runway

~15 months

$232M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Adequate runway but may need to raise capital within 2 years

Strong grower

HIVE Digital Technologies is growing revenue at 69% year-over-year. The Winston Score penalises unprofitable companies, but revenue at this pace tells a different story — this is a company still in "build mode."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

-37.3%

Thin — -37.3% gross margin

Profit after running costs

Operating Margin

-57.6%

Losing money on operations — -57.6%

Return on the money invested

ROCE

-28.5%

Weak — -28.5% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

+156.0%

Fast-growing sales (+156.0% YoY)

Profit growth

EPS YoY

<−1,000%

Earnings shrinking (<−1,000% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-37.8%

Burning cash (-37.8%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.66

Moderate — manageable debt (0.66)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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