HIVE Digital Technologies Ltd Stock Price, News & Analysis

HIVE Digital Technologies has announced a major order of 6,500 Canaan Avalon A1566 ASIC Miners and the groundbreaking of a 100 MW facility in Paraguay. The new miners, delivering 185 TH/s at 16.5 J/TH efficiency, will replace older 30 J/TH ASICs. The first 500 units will be operational this week, with remaining deliveries scheduled through March 2025. This upgrade will increase HIVE's capacity to 6 EH/s and improve fleet efficiency to 20.5 J/TH. The Paraguay facility's construction has begun, with 30 MW expected online by early Q2 2025, targeting a total hashrate of 12.5 EH/s with 17.6 J/TH efficiency when fully operational by Q3 2025.

HIVE Digital Technologies reported its October 2024 production results, mining 117 BTC (1% increase month-over-month) with an average mining capacity of 5.3 EH/s. The company's HODL portfolio reached 2,624 BTC, a 51% year-over-year increase, valued at over $184 million. Fleet efficiency maintained at 22.3 J/TH with a peak hashrate of 5.6 EH/s.

HIVE began construction of a new 100 MW facility in Paraguay, aiming to capture 2% of global Bitcoin mining capacity. The company also issued 2,442,000 restricted share units to employees, officers, directors, and consultants, vesting over two years.

HIVE Digital Technologies (NASDAQ: HIVE) has scheduled the release of its Q2 2025 financial results for November 13, 2024, before market open. The company, which specializes in green energy-powered blockchain infrastructure, will host an earnings conference call and webcast at 8:30 AM EST on the same day. Interested participants are advised to register approximately 5 minutes before the call begins. The earnings release and call replay will be available on HIVE's investor relations website.

HIVE Digital Technologies (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) reported its September 2024 performance, mining 112 Bitcoin and increasing its HODL portfolio to 2,604 BTC, a 50% growth over 12 months. The company maintained a strong mining capacity of 5.6 Exahash per second (EH/s) with an average of 5.3 EH/s, primarily using hydroelectric power.

Key highlights include:

• Mining efficiency of 21.1 Bitcoin per Exahash
• Daily production rate of 3.73 BTC
• Bitcoin HODL valued at over $160 million as of September 30, 2024
• Plans to upgrade ASIC fleet to S21 Pro models, potentially lowering Bitcoin production cost to $28,500
• Contribution to grid balancing in Sweden
• Partnership with Stifel for At-The-Market (ATM) offering
• Filed Base Shelf Prospectus for $300 million to support upgrades and expansion in Paraguay

HIVE Digital Technologies has announced an updated at-the-market (ATM) equity program, entering into an equity distribution agreement with Stifel as lead agent and a syndicate including Canaccord Genuity, Roth Canada, B. Riley Securities, and Northland Capital Markets. The ATM Program allows HIVE to sell up to US$200 million of common shares at its discretion, with the flexibility to terminate before reaching the full amount.

Proceeds will be used for general corporate requirements, debt repayments, and potential future acquisitions. Shares will be sold at the prevailing market price. Details are available in a prospectus supplement dated October 3, 2024, supplementing the base shelf prospectus dated September 11, 2024, filed in Canada and with the U.S. SEC.

HIVE Digital Technologies (NASDAQ: HIVE) has issued a correction to its August 2024 Bitcoin HODL value. The correct balance as of August 31, 2024, was 2,567 Bitcoins, valued at over $151 million, not 2,533 Bitcoins worth $164 million as previously reported. This adjustment does not affect other details in the September 5, 2024 news releases.

The company also provided details on its At-The-Market (ATM) sales from July 1-19, 2024. Under the August 2023 ATM Equity Program, HIVE issued 1,368,297 common shares, raising gross proceeds of C$6.09 million ($4.46 million) at an average price of C$4.45 per share. The net proceeds will be used for data center equipment purchases, strategic investments, and working capital.

HIVE's management emphasized their focus on maintaining low G&A costs, maximizing cash flow, and increasing hashrate to 13.5 EH/s following upgrades at their Paraguay facility, all while prioritizing sustainable energy use.

HIVE Digital Technologies reported mining 112 Bitcoin in August 2024, increasing its total Bitcoin holdings by 1% to 2,567 BTC. The company maintained an average mining capacity of over 5.0 Exahash per second (EH/s) throughout the month. HIVE also announced the acquisition of 1,000 Bitmain S21 Pro Antminers for immediate delivery to upgrade its existing equipment.

Key highlights include:

• Ended August with a 5.3 EH/s ASIC mining capacity
• Achieved a blended fleet efficiency of 23 joules per terahash (J/TH)
• Averaged 22.4 Bitcoin per Exahash
• Daily production of 3.6 BTC

HIVE aims to optimize its fleet performance, projecting a target hashrate of 13.5 EH/s with a global blended fleet efficiency of 16.9 J/TH upon completion of its Paraguay facility, while maintaining its commitment to green energy.

HIVE Digital Technologies (NASDAQ: HIVE) reported its August 2024 production results, mining 112 Bitcoin and increasing its total Bitcoin holdings by 1% to 2,533 BTC. The company maintained an average mining capacity of over 5.0 Exahash per second (EH/s) throughout the month. HIVE also announced the acquisition of 1,000 Bitmain S21 Pro Antminers for immediate delivery to upgrade its existing equipment.

Key highlights include:

• A blended fleet efficiency of 23 joules per terahash (J/TH)
• Average daily production of 3.6 BTC
• Bitcoin HODL value exceeding $164 million as of August 31, 2024

HIVE Digital Technologies (NASDAQ: HIVE) reported its Q1 F2025 results, ending June 30, 2024. The company achieved $32.2 million in revenue, including $29.6 million from digital currency mining and $2.6 million from high-performance computing (HPC) operations. HIVE mined 449 Bitcoin during the quarter, with a gross operating margin of $11.4 million (35%). The company's Adjusted EBITDA was $14.9 million, with a net income of $4.2 million before tax.

HIVE increased its Bitcoin mining ASIC hashrate by 4% to 4.9 Exahash and ended the period with 2,496 Bitcoin on its balance sheet, valued at $153.9 million. The company successfully navigated the Bitcoin Halving event by upgrading its ASIC miners. HIVE is also planning to convert 30 MW of existing Bitcoin mining capacity to Tier 3 infrastructure for GPU operation, potentially yielding 20 MW of Tier 3 compute within 6-9 months.