Citadel reports 5.4% stake in HIVE Digital (12.37M shares)

Accepted by SEC EDGAR 08/20/2025 - 05:18 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Citadel-related entities disclosed beneficial ownership in HIVE Digital Technologies Ltd. The filing reports that Citadel Securities LLC may be deemed to beneficially own 9,891,159 Common Shares (4.3% of the class) and that Citadel Securities Group LP and Citadel Securities GP LLC each may be deemed to beneficially own 12,365,243 Common Shares (5.4%). Mr. Kenneth Griffin is reported with 12,365,683 shares (5.4%). The percent calculations are based on 229,600,303 shares outstanding per the issuer's Form 6-K. Reported holdings are shared voting and dispositive power; no sole voting or sole dispositive power is shown. The filing states the shares were not acquired to influence control of the issuer.

Positive

• Material ownership disclosure: Citadel entities report holdings representing up to 5.4% of HIVE, increasing market transparency
• Shared voting and dispositive power disclosed: Filing specifies voting and disposition are shared rather than sole, clarifying control structure
• Certification against control intent: Reporting persons certify shares were not acquired to change or influence control

Negative

• No sole voting or dispositive power: All reported holdings show 0 sole voting and sole dispositive power, limiting explicit control
• Concentration across affiliated entities: Multiple Citadel-related entities are reported as beneficial owners, which may complicate attribution of actions among filers

Insights

Securities Analyst

TL;DR: Citadel entities disclosed a meaningful passive stake in HIVE; shared voting power predominates, not sole control.

Citadel Securities LLC is reported with 9,891,159 shares (4.3%) while Citadel Securities Group LP and Citadel Securities GP LLC are each reported with 12,365,243 shares (5.4%), using 229,600,303 shares outstanding as the base. The holdings are reported as shared voting and dispositive power rather than sole power, and the filing expressly states the holdings were not acquired to change or influence control. For investors this is a material ownership disclosure but not an indicated change of control or an activist intent in the filing itself.

Corporate Governance Expert

TL;DR: A >5% reported position by affiliated Citadel entities is material for governance visibility but shows no sole control.

The schedule reports that certain Citadel entities and Mr. Kenneth Griffin may be deemed to beneficially own approximately 5.4% of HIVE's outstanding shares (12,365,243to12,365,683 shares depending on the reporting person), with voting and dispositive power characterized as shared. The certification clarifies the position is not held for control purposes per the filing. This disclosure increases transparency around significant holders without asserting governance action.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many HIVE (HIVE) shares did Citadel Securities LLC report owning?

Citadel Securities LLC is reported as beneficially owning 9,891,159 shares, representing 4.3% of the class based on 229,600,303 outstanding shares.

What percentage of HIVE does Citadel Securities Group LP report owning?

Citadel Securities Group LP is reported as beneficially owning 12,365,243 shares, representing 5.4% of HIVE's outstanding shares.

Does any reporting person claim sole voting or dispositive power over HIVE shares?

No. The filing shows 0 shares with sole voting power and 0 shares with sole dispositive power for the reporting persons; voting and dispositive power are reported as shared.

On what share count are the percentage figures based?

Percentages are based on 229,600,303 Shares outstanding, per the issuer's Form 6-K referenced in the filing.

Were the shares reported as acquired to influence control of HIVE?

The filing includes a certification stating the securities "were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer."

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

HIVE Digital Technologies Ltd.

(Name of Issuer)

Common Shares, no par value (the "Shares")

(Title of Class of Securities)

433921103

(CUSIP Number)

08/13/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 433921103

1

Names of Reporting Persons

Citadel Securities GP LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 12,365,243.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 12,365,243.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,365,243.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.4 %

12

Type of Reporting Person (See Instructions)

HC, OO

Comment for Type of Reporting Person: The percentages reported in this Schedule 13G are based upon 229,600,303 Shares outstanding as of August 14, 2025 (according to the issuer's Form 6-K as filed with the Securities and Exchange Commission on August 15, 2025). Except as described in the preceding sentence, all Shares for the holdings of the reporting persons reported in this Schedule 13G are as of the opening of the market on August 20, 2025.

SCHEDULE 13G

CUSIP No. 433921103

1

Names of Reporting Persons

Citadel Securities LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 9,891,159.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 9,891,159.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,891,159.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.3 %

12

Type of Reporting Person (See Instructions)

BD, OO

SCHEDULE 13G

CUSIP No. 433921103

1

Names of Reporting Persons

Citadel Securities Group LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 12,365,243.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 12,365,243.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,365,243.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.4 %

12

Type of Reporting Person (See Instructions)

HC, PN

SCHEDULE 13G

CUSIP No. 433921103

1

Names of Reporting Persons

Citadel Advisors LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 440.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 440.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

440.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.0 %

12

Type of Reporting Person (See Instructions)

IA, HC, OO

SCHEDULE 13G

CUSIP No. 433921103

1

Names of Reporting Persons

Citadel Advisors Holdings LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 440.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 440.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

440.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.0 %

12

Type of Reporting Person (See Instructions)

HC, PN

SCHEDULE 13G

CUSIP No. 433921103

1

Names of Reporting Persons

Citadel GP LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 440.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 440.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

440.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0.0 %

12

Type of Reporting Person (See Instructions)

HC, OO

SCHEDULE 13G

CUSIP No. 433921103

1

Names of Reporting Persons

Kenneth Griffin

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 12,365,683.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 12,365,683.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,365,683.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.4 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: HIVE Digital Technologies Ltd.
(b)	Address of issuer's principal executive offices: Suite 128, 7900 Callaghan Road San Antonio, TX, 78229
Item 2.
(a)	Name of person filing: This Schedule 13G is being jointly filed by Citadel Securities GP LLC ("CSGP"), Citadel Securities LLC ("Citadel Securities"), Citadel Securities Group LP ("CALC4"), Citadel Advisors LLC ("Citadel Advisors"), Citadel Advisors Holdings LP ("CAH"), Citadel GP LLC ("CGP"), and Mr. Kenneth Griffin (collectively with CSGP, Citadel Securities, CALC4, Citadel Advisors, CAH, and CGP, the "Reporting Persons") with respect to the Shares of the above-named issuer owned by Citadel Securities, CRBU Holdings LLC, a Delaware limited liability company ("CRBH"), Citadel Multi-Strategy Equities (Ireland) Designated Activity Company, an Ireland company ("CMSI"), Citadel Securities Principal Strategies LLC, a Delaware limited liability company ("CSP"), and Citadel Securities Canada ULC, a Nova Scotia unlimited liability company ("CS Canada"). Such owned Shares may include other instruments exercisable for or convertible into Shares. CALC4 is the non-member manager of Citadel Securities, CRBH, and CSP; it is also the member manager of CSHC Canada LLC, a Delaware limited liability company ("CSHCC"). CHSCC is the parent company of CS Canada. CSGP is the general partner of CALC4. Citadel Advisors is the portfolio manager for CMSI. CAH is the sole member of Citadel Advisors. CGP is the general partner of CAH. Mr. Griffin is the President and Chief Executive Officer of CGP, and owns a controlling interest in CGP and CSGP. The filing of this statement shall not be construed as an admission that any of the Reporting Persons is the beneficial owner of any securities covered by the statement other than the securities actually owned by such person (if any).
(b)	Address or principal business office or, if none, residence: The address of each of the Reporting Persons is 830 Brickell Plaza, Miami, Florida 33131.
(c)	Citizenship: Each of CSGP, Citadel Securities, Citadel Advisors, and CGP is organized as a limited liability company under the laws of the State of Delaware. Each of CALC4 and CAH is organized as a limited partnership under the laws of the State of Delaware. Mr. Griffin is a U.S. citizen.
(d)	Title of class of securities: Common Shares, no par value (the "Shares")
(e)	CUSIP No.: 433921103
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 1. Citadel Securities LLC may be deemed to beneficially own 9,891,159 Shares. 2. Each of Citadel Securities Group LP and Citadel Securities GP LLC may be deemed to beneficially own 12,365,243 Shares. 3. Each of Citadel Advisors LLC, Citadel Advisors Holdings LP and Citadel GP LLC may be deemed to beneficially own 440 Shares 4. Mr. Griffin may be deemed to beneficially own 12,365,683 Shares.
(b)	Percent of class: 1. The number of Shares that Citadel Securities LLC may be deemed to beneficially own constitutes 4.3% of the Shares outstanding. 2. The number of Shares that each of Citadel Securities Group LP and Citadel Securities GP LLC may be deemed to beneficially own constitutes 5.4% of the Shares outstanding. 3. The number of Shares that each of Citadel Advisors LLC, Citadel Advisors Holdings LP and Citadel GP LLC may be deemed to beneficially own constitutes 0.0% of the Shares outstanding. 4. The number of Shares that Mr. Griffin may be deemed to beneficially own constitutes 5.4% of the Shares outstanding.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1. Citadel Securities LLC: 0 2. Each of Citadel Securities Group LP and Citadel Securities GP LLC: 0 3. Each of Citadel Advisors LLC, Citadel Advisors Holdings LP and Citadel GP LLC: 0 4. Mr. Griffin: 0
	(ii) Shared power to vote or to direct the vote: 1. Citadel Securities LLC: 9,891,159 2. Each of Citadel Securities Group LP and Citadel Securities GP LLC: 12,365,243 3. Each of Citadel Advisors LLC, Citadel Advisors Holdings LP and Citadel GP LLC: 440 4. Mr. Griffin: 12,365,683
	(iii) Sole power to dispose or to direct the disposition of: 1. Citadel Securities LLC: 0 2. Each of Citadel Securities Group LP and Citadel Securities GP LLC: 0 3. Each of Citadel Advisors LLC, Citadel Advisors Holdings LP and Citadel GP LLC: 0 4. Mr. Griffin: 0
	(iv) Shared power to dispose or to direct the disposition of: 1. Citadel Securities LLC: 9,891,159 2. Each of Citadel Securities Group LP and Citadel Securities GP LLC: 12,365,243 3. Each of Citadel Advisors LLC, Citadel Advisors Holdings LP and Citadel GP LLC: 440 4. Mr. Griffin: 12,365,683
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Citadel Securities GP LLC

Signature:	/s/ Seth Levy
Name/Title:	Seth Levy, Authorized Signatory
Date:	08/20/2025

Citadel Securities LLC

Signature:	/s/ Seth Levy
Name/Title:	Seth Levy, Authorized Signatory
Date:	08/20/2025

Citadel Securities Group LP

Signature:	/s/ Seth Levy
Name/Title:	Seth Levy, Authorized Signatory
Date:	08/20/2025

Citadel Advisors LLC

Signature:	/s/ Seth Levy
Name/Title:	Seth Levy, Authorized Signatory
Date:	08/20/2025

Citadel Advisors Holdings LP

Signature:	/s/ Seth Levy
Name/Title:	Seth Levy, Authorized Signatory
Date:	08/20/2025

Citadel GP LLC

Signature:	/s/ Seth Levy
Name/Title:	Seth Levy, Authorized Signatory
Date:	08/20/2025

Kenneth Griffin

Signature:	/s/ Seth Levy
Name/Title:	Seth Levy, attorney-in-fact*
Date:	08/20/2025

Comments accompanying signature: * Seth Levy is signing on behalf of Kenneth Griffin as attorney-in-fact pursuant to a power of attorney previously filed with the Securities and Exchange Commission, and hereby incorporated by reference herein. The power of attorney was filed as an attachment to a filing by Citadel Advisors LLC on Schedule 13G for Allakos Inc. on October 13, 2023.

Exhibit Information

Exhibit 99.1 - Joint Filing Agreement