HIVE Digital's Q2 revenue soars on bitcoin mining scale-up

Overview

• Data center infrastructure provide HIVE Digital Q2 rev rises 285% yr/yr to $87.3 mln, driven by Bitcoin mining, HPC

• Company reports GAAP net loss of $15.8 mln due to accelerated ASICs depreciation

• HIVE achieved 25 EH/s operational hashrate, completes 300 MW capacity in Paraguay

Outlook

• HIVE Digital Technologies did not provide specific future guidance in press release

Result Drivers

• BITCOIN MINING EXPANSION - Co attributes revenue growth to rapid scale-out of Bitcoin mining fleet to 16.2 EH/s by end of Q2

• HPC DEMAND - Increased demand for BUZZ HPC services contributed to revenue growth

• INFRASTRUCTURE EXPANSION - Completed 300 MW of new capacity in Paraguay, supporting operational growth

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• Wall Street's median 12-month price target for HIVE Digital Technologies Ltd is $8.75, about 62.2% above its November 14 closing price of $3.31

• The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 19 three months ago

Press Release:

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