HIVE Digital Technologies Ltd. Q1 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

HIVE Digital Technologies Q1 FY2026 Earnings Summary (Quarter Ended June 30, 2025)

Overview: HIVE reported record results driven by Paraguay expansion, hashrate growth, and operational efficiency. Revenue reached $45.6M with strong margins and profitability. Bitcoin mining accounted for ~90% of revenue; HPC/AI (Buzz) contributed ~10%. Current hashrate at 15 EH/s (post-quarter), targeting 25 EH/s by American Thanksgiving 2025. Focus on renewable energy (hydro in Paraguay, Canada, Sweden), low G&A, and sector-leading 15% ROIC.

Financial Highlights (Comparisons vs Prior Periods)

  • Revenue: $45.6M (vs $32.2M in Q1 FY2025, +41% YoY; vs $31.2M in Q4 FY2025, +46% QoQ). Growth primarily from Paraguay hashrate expansion and higher Bitcoin prices.
  • Gross Operating Margin: $15.8M / 35-38% (vs $10.7M / 33% in Q1 FY2025; vs $8.8M / 28% in Q4 FY2025). Improvement from fleet optimization and lower power costs in Paraguay.
  • Adjusted EBITDA: $44.6M (vs -$8M in Q1 FY2025; vs -$30.7M in Q4 FY2025). Non-GAAP metric reflecting operational strength.
  • Net Income: $35M (vs net loss of $18.3M in Q1 FY2025; vs net loss of $52.9M in Q4 FY2025). Includes non-cash Bitcoin revaluation swings.

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Nathan Fast: Hello, and welcome to today's webcast on HIVE Digital Technologies financial results for the quarter ended June 30, 2025. My name is Nathan Fast, Director of Marketing and Branding at HIVE. I'll be your moderator for today's call. Before we get started on Slide 2, we'd like to briefly note the disclosures for today's presentation. Except for statements of historical fact, this presentation contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words such as expects, beliefs and similar expressions identify these statements. Actual results could differ materially, and we disclaim any obligation to update them, except as required by law. For a full discussion of risk factors, please refer to our most recent SEC filings at sec.gov. In addition to discussing results that are calculated in accordance with GAAP, we will also reference certain non-GAAP financial measures, including adjusted EBITDA, adjusted net income and free cash flow. Management uses these metrics to evaluate operating performance and believe they provide investors with additional insight and they are presented for supplemental purposes only and should not be considered in isolation from GAAP results. Reconciliations to the nearest GAAP measures are included in the appendix to this presentation and in the press release and Form 8-K furnished to the SEC. On the next slide, I'm pleased to introduce today's presenters: Frank Holmes, Executive

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