Financial Performance (Q2 F2026) - Total revenue reached $87.3 million[58], with $82.1 million[58] from Bitcoin mining and $5.2 million[58] from HPC/AI revenue - Adjusted EBITDA was $31.5 million[58] - Gross operating margin was $42.4 million[58], representing a 49%[126, 148] gross operating margin - Net loss was $15.8 million[58] Bitcoin Mining Operations - October production reached 289 BTC[41] - Achieved a hash rate of 24 EH/s[41] - Goal of 2.8% of global hashrate[40] - The company has 210 Bitcoin in treasury[58] HPC/AI Growth - Scaling to $225 million ARR with AI NeoCloud and HPC Colo[45] - Over $20 million ARR[45] - Targeting 11,000 GPUs under BUZZ AI platform by Q4 2026[63] Expansion and Infrastructure - 300MW expansion in Paraguay using 100% green energy from the Itaipu Dam[34] - Vertically integrated growth strategy with Tier I and Tier III data centers[62] - Aiming for ~$750 million ARR by Q4 2026[63]

Core Viewpoint - HIVE Digital Technologies, through its subsidiary BUZZ High Performance Computing, is advancing Canada's AI infrastructure by partnering with Dell Technologies to expand its AI Cloud capabilities, which is expected to significantly enhance its operational capacity and revenue potential [1][4]. Group 1: Partnership and Infrastructure Development - BUZZ will deploy a 63 node cluster of liquid-cooled Dell PowerEdge XE9680L servers equipped with 504 latest generation GPUs optimized for AI computing, delivered through Dell Integrated Rack Scalable Systems [2]. - The deployment will take place at the Bell AI Fabric data center, building on BUZZ's existing partnership with Bell to expand its sovereign AI Cloud [2]. - BUZZ has proprietary high-efficiency liquid-cooled data center designs in Canada and Sweden, with plans to support an additional 2,000 GPUs at each site, targeting a total of over 6,000 GPUs for its AI Cloud by the end of 2026 [4][5]. Group 2: Financial Projections and Market Position - The expansion is projected to generate an additional $120 million in annual run-rate revenue (ARR) with an operating margin of 80% after costs, in addition to the current $20 million ARR [4]. - With over 5,000 GPUs already operational, the total for BUZZ AI Cloud is expected to exceed 11,000 GPUs by the end of 2026 [5]. - The HIVE 70 megawatt operation Tier I data center in Grand Falls, New Brunswick, has the potential to support over 25,000 latest generation GPUs, enhancing Canada's position in the global AI race [6]. Group 3: Company Background - HIVE Digital Technologies Ltd. is the first publicly listed company to mine digital assets using exclusively green energy, operating next-generation blockchain and AI data centers across Canada, Sweden, and Paraguay [9]. - BUZZ specializes in AI Cloud and high-performance computing (HPC) data center services, contributing to Canada's ambitions in the global AI economy [10].

Core Insights - HIVE Digital Technologies, through its subsidiary BUZZ High Performance Computing, has partnered with Dell Technologies to enhance its AI infrastructure in Canada, marking a significant step in the country's AI industrial revolution [1][2] Group 1: Partnership and Infrastructure Development - BUZZ will deploy a 63 node cluster of liquid-cooled Dell PowerEdge XE9680L servers, utilizing 504 latest generation GPUs optimized for AI computing [2] - The deployment will occur at the Bell AI Fabric data center, building on an existing partnership with Bell to expand its sovereign AI Cloud [2] - BUZZ has achieved Bronze status in the Semi-Analysis ClusterMax™ rankings, indicating its technical leadership in the AI cloud sector [3] Group 2: Future Expansion Plans - BUZZ is planning to support an additional 2,000 latest generation GPUs at its facilities in Canada and Sweden, targeting a total of over 6,000 GPUs for its AI Cloud by the end of 2026 [4] - This expansion is projected to generate an additional $120 million in annual run-rate revenue (ARR) with an operating margin of 80% after costs, in addition to the current $20 million ARR [4] - With over 5,000 GPUs already operational, the total for BUZZ AI Cloud is expected to exceed 11,000 GPUs by the end of 2026 [5] Group 3: Data Center Capacity and Contributions - The HIVE 70 megawatt operation Tier I data center in Grand Falls, New Brunswick, has the potential to support over 25,000 latest generation GPUs, enhancing Canada's position in the global AI race [6]

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The news team covers medium and small-cap markets, as well as blue-chip companies, commodities, and broader investment stories [3] - Proactive has bureaus and studios in key finance and investing hubs including London, New York, Toronto, Vancouver, Sydney, and Perth [2] Group 2 - The company is focused on sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] - Proactive adopts technology to enhance workflows and improve content production [4] - All content published by Proactive is edited and authored by humans, ensuring adherence to best practices in content production and search engine optimization [5]

Group 1 - HIVE Digital Technologies Ltd. is set to release its second-quarter earnings on November 14, with analysts expecting earnings of 2 cents per share, a significant improvement from a loss of 6 cents per share in the same quarter last year [1] - The consensus estimate for HIVE Digital's quarterly revenue is projected at $80.62 million, a substantial increase from $22.65 million reported last year [1] - In the first quarter, HIVE Digital Technologies reported better-than-expected results, although its shares dipped 10.7% to close at $3.66 [2] Group 2 - Analysts have maintained a positive outlook on HIVE stock, with multiple analysts issuing Buy ratings and raising price targets, including Rosenblatt's increase from $5 to $10 and Canaccord Genuity's target of $10 [7] - Roth Capital raised its price target from $6 to $7.5, while Cantor Fitzgerald increased its target from $5 to $5.5, indicating a generally optimistic sentiment among analysts [7] - HC Wainwright & Co. maintained a Buy rating but reduced its price target from $9 to $6, reflecting some caution despite the overall positive ratings [7]

Core Viewpoint - HIVE Digital Technologies is poised for significant revenue growth driven by its expanding Bitcoin mining capacity and high-performance computing services, despite an anticipated loss per share for the upcoming quarter [1][2][3]. Revenue and Earnings - HIVE is expected to report a revenue of approximately $80.6 million, reflecting a year-over-year increase of 257.45% [2][6]. - The Zacks Consensus Estimate predicts a loss of $0.01 per share for the quarter, an improvement from a loss of $0.06 per share in the same quarter last year [3]. Bitcoin Production and Mining Capacity - In October 2025, HIVE produced 289 Bitcoin, marking an 8% increase from the previous month and a 147% increase compared to the same period last year [4]. - The average daily Bitcoin production for October was 9.3, with a hashrate averaging 21.9 Exahash per second [4]. - HIVE's network share now exceeds 2% of the global Bitcoin network [4]. Expansion and Infrastructure - HIVE has completed its 100-megawatt Phase 3 Valenzuela expansion in Paraguay, bringing its total installed global Bitcoin mining capacity to 25 Exahash per second [5][6]. - The expansion was completed ahead of schedule by about two weeks, successfully commissioning the final application-specific integrated circuits (ASICs) and containers [5].

Core Insights - HIVE Digital Technologies is expected to report significant revenue growth of 257.45% year-over-year for the second quarter of fiscal 2026, with estimated revenues of $80.96 million [1][9] - The consensus estimate for loss per share is 1 cent, an improvement from a loss of 6 cents per share in the same quarter last year [1] Financial Performance - HIVE has beaten the Zacks Consensus Estimate in three of the last four quarters, with an average negative surprise of 19.51% [2] - The first quarter of fiscal 2026 saw revenues from high-performance computing rise to $4.8 million, an increase of 84.8% year-over-year, driven by strong demand for AI infrastructure [3] Growth Drivers - The company achieved a milestone of 23 Exahash per second in global Bitcoin-mining capacity, representing a 283% increase this year [4] - HIVE expanded its operations by acquiring 32.5 acres in Grand Falls, New Brunswick, to build a Tier III+ HPC data center, supporting its strategy to integrate Bitcoin mining with AI-driven high-performance computing [5][9] Challenges - Fluctuations in Bitcoin prices and intense competition in the cryptocurrency mining sector may have negatively impacted HIVE's performance in the upcoming quarter [6]

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2][3] - The news team covers key finance and investing hubs including London, New York, Toronto, Vancouver, Sydney, and Perth [2] - Proactive focuses on medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [2][3] Group 2 - The team delivers news and insights across various sectors including biotech, pharma, mining, natural resources, battery metals, oil and gas, crypto, and emerging technologies [3] - Proactive adopts technology to enhance workflows and improve content production [4][5] - All content published by Proactive is edited and authored by humans, ensuring adherence to best practices in content production and search engine optimization [5]

Core Insights - HIVE Digital Technologies reported October 2025 Bitcoin production of 289 BTC, marking an 8% increase month-over-month and a 147% increase year-over-year [6][7] - The company has surpassed 24 EH/s of operational hashrate, supported by a total of 300 MW capacity in Paraguay, and is now positioned as one of the most efficient digital-asset operators globally [3][4] Production Highlights - Bitcoin production reached 289 BTC, with an average daily production of 9.3 BTC/day [6] - The operational hashrate averaged 21.9 EH/s, with a peak of 23.6 EH/s, reflecting a 13% growth from September [6][7] - Fleet efficiency was recorded at 17.7 J/TH, with production growth outpacing Bitcoin network difficulty [6][7] Expansion and Infrastructure Development - The Phase 3 Valenzuela expansion in Paraguay is complete, bringing the total capacity to 300 MW and operational hashrate to approximately 25 EH/s [4][5] - HIVE is transforming its Canadian operations from Tier I to Tier III+ AI and high-performance computing (HPC) data centers, with significant investments in infrastructure [8][10] - The Grand Falls campus in New Brunswick is being converted into a Tier III+ AI data center, designed to support up to 25,000 NVIDIA GPUs [9] Management Commentary - Management emphasizes that the growth in Bitcoin production is not only enhancing revenue but also funding the transformation of mining campuses into advanced AI infrastructure [11] - The dual focus on Bitcoin mining and AI computing is expected to deliver strong returns while preparing for future technological demands [11] Future Outlook - Each additional exahash is anticipated to increase daily Bitcoin production and revenue potential, with stable operating costs due to fixed-rate hydroelectric power [13] - HIVE aims to continue scaling its operations in both Bitcoin mining and AI computing, aligning with national innovation goals [10][11]

Core Insights - HIVE Digital Technologies reported a Bitcoin production of 289 BTC in October 2025, marking an 8% increase month-over-month and a 147% increase year-over-year [6][7] - The company has surpassed 24 EH/s of operational hashrate, supported by a total of 300 MW capacity in Paraguay, and is expanding into Tier III+ AI and high-performance computing data centers in Canada [1][4][8] Production Highlights - Bitcoin production reached 289 BTC, with an average daily production of 9.3 BTC/day [6] - The hashrate averaged 21.9 EH/s, with a peak of 23.6 EH/s, reflecting a 13% growth from September [6][7] - Fleet efficiency was recorded at 17.7 J/TH, with production growth outpacing Bitcoin network difficulty [6][7] Expansion and Infrastructure Development - The Phase 3 Valenzuela expansion in Paraguay is complete, bringing the total capacity to 300 MW and operational hashrate to approximately 25 EH/s [4][5] - HIVE is upgrading its Canadian facilities from Tier I to Tier III+ AI data centers, including a 70 MW campus in New Brunswick and a 7.2 MW facility in Toronto [8][10] Management Commentary - Management emphasized that the growth in Bitcoin production is not only enhancing revenue but also funding the transformation of mining campuses into AI infrastructure [11] - The dual focus on Bitcoin mining and AI computing is expected to deliver strong returns while preparing for future demands in the AI sector [11] Future Outlook - Each additional exahash is projected to increase daily Bitcoin production and revenue potential, with stable operating costs due to fixed-rate hydroelectric power [13] - The company is positioned as a significant player in green-energy AI infrastructure development in Canada, aligning with national innovation goals [10]