HIVE Digital Technologies

HIVE.TO

Information Technology Services · Technology

Exchange

Toronto Stock Exchange

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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Winston Score History

The full picture

HIVE Digital Technologies is a company that mines cryptocurrency and runs data centers for artificial intelligence computing. It uses large warehouses full of specialized computers to earn Bitcoin and Ethereum by solving complex math problems — a process called crypto mining. 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 cloud computing services. It operates primarily in Canada, Sweden, and Iceland, taking advantage of cheap, renewable electricity in those regions to keep costs down. The company's access to low-cost green energy is its main competitive edge, but the negative gross and operating margins show it is currently spending more than it earns — a serious concern. The biggest risk HIVE faces is the volatile price of Bitcoin, since a sharp drop in crypto prices can quickly make mining unprofitable.

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

+125.0% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

YoY Growth Rate

EPS data limited

Insider Activity

3.4%ownership

Relatively low insider ownership

Cash Runway

~5 months

C$33M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Revenue accelerating

HIVE Digital Technologies grew revenue 125% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

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

-34.8%

Weak — -34.8% 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

+154.3%

Fast-growing sales (+154.3% 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

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-27.3%

Burning cash (-27.3%)

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

no trend

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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