Recommendation: Buy
| Entry Date | Symbol | Recommendation | Entry Price (USD) | Target 1 (USD) | Target 2 (USD) | Holding Duration | Position Status | Return(%)* |
|---|---|---|---|---|---|---|---|---|
| 24 Feb, 26 | HIVE | Buy | USD 2.19 | USD 2.3 | USD 2.45 | 1 day | Closed |
6.39%
|
*Return(%) represent the percentage change between the entry price and exit price of the recommendation.
Data Powered by EOD Historical Data (“EODHD”).
HIVE Digital Technologies Ltd. operates as a cryptocurrency mining company in Canada, Sweden, and Iceland. The company engages in the mining and sale of digital currencies, including Ethereum Classic, Bitcoin, and other coins. It also operates data centers; and offers infrastructure solutions. The company was formerly known as HIVE Blockchain Technologies Ltd. and changed its name to HIVE Digital Technologies Ltd. in July 2023. HIVE Digital Technologies Ltd. was incorporated in 1987 and is headquartered in Vancouver, Canada.
Enhanced Installed Infrastructure Base: Plant and equipment increased to USD 469.3 million as of December 31, 2025 from USD 202.8 million as of March 31, 2025
Gross Operating Margin Expansion: Gross operating margin improved to USD 32.1 million in Q3 FY2025 compared to USD 5.3 million in Q3 FY2024
Shift from Profit to Loss: Net loss of USD 91.3 million in Q3 FY2025 compared to net income of USD 68.2 million in Q3 FY2024
Rising Operating Costs: Operating and maintenance expenses increased to USD 60.1 million in Q3 FY2025 compared to USD 23.5 million in Q3 FY2024
HIVE’s performance remains highly exposed to Bitcoin price volatility, network difficulty and hashprice fluctuations, energy cost instability (particularly in Europe), regulatory uncertainty in crypto markets, and the capital-intensive nature of continuous ASIC upgrades required to maintain competitive mining efficiency
| Entry Price | Support* | Target 1** | Target 2** |
|---|---|---|---|
| 2.19 | 1.95 | 2.3 | 2.45 |
Data Source: REFINITIV, Analysis: StockNextt
*Support can be considered as an indicative stop-loss, and if prices move below that level on closing basis individuals may evaluate exiting the position depending on their risk appetite, previous holdings, and other factors considered. The support and resistance levels may need to be re-evaluated within 4-6 weeks’ time frame depending on the stock price movements from the date of recommendation on the stock.
**Target prices may vary by ±0.5% depending on market volatility.
Revenue Growth Driven by Mining Scale Expansion: During Q3 FY2025, HIVE reported total revenue of USD 93.1 million compared to USD 29.2 million in Q3 FY2024, reflecting substantial year-over-year growth driven by increased Bitcoin production and expanded hashrate capacity. Revenue from digital currency mining remained the dominant contributor, supported by significant infrastructure expansion in Paraguay and upgraded ASIC deployments.
Expansion in Digital Asset Production: Bitcoin production increased to 884 BTC in Q3 FY2025 from 322 BTC in Q3 FY2024, reflecting improved installed capacity and operational scale. The Company’s strategic expansion to approximately 25 EH/s of installed hashrate enhanced its global network share and positioned it among leading publicly listed miners.
Cost Escalation and Margin Compression: Despite strong revenue growth, cost pressures intensified. Operating and maintenance expenses rose to USD 60.1 million from USD 23.5 million, while depreciation increased significantly to USD 57.4 million from USD 18.1 million. The sharp rise in depreciation reflects heavy capital investments in new-generation miners and hydro-powered data centers.
Volatility in Digital Asset Valuations: The Company recorded net realized and unrealized losses of USD 9.8 million on digital currencies in Q3 FY2025 versus gains of USD 77.4 million in Q3 FY2024. Additionally, a USD 31.6 million loss from changes in fair value of derivatives materially impacted quarterly profitability.
Net Loss Despite Strong Operating Scale: HIVE reported a net loss of USD 91.3 million in Q3 FY2025 compared to net income of USD 68.2 million in Q3 FY2024. The shift was largely attributable to non-cash revaluation losses, derivative fair value adjustments, and higher depreciation from accelerated infrastructure deployment.
Strengthened Balance Sheet and Capital Base: Total equity increased to USD 559.3 million as of December 31, 2025, compared to USD 430.9 million as of December 31, 2024 (refer equity table). Additional paid-in capital rose significantly due to equity offerings that funded capacity expansion. However, accumulated deficit widened to USD 345.9 million.
Operational Diversification into HPC: The Company continued expanding into high-performance computing (HPC) and AI-driven workloads, leveraging NVIDIA GPU infrastructure to diversify revenue streams. While still a smaller revenue contributor relative to Bitcoin mining, HPC represents a strategic long-term diversification initiative.
Considering recent key business, financial updates, current trading levels, and key business risks, a ‘Buy’ recommendation has been given to HIVE Digital Technologies Ltd (NASDAQ: HIVE) at the current market price of USD 2.19, as on Feb 24,2026 at 11:30 am PST
Data Powered by EOD Historical Data (“EODHD”).
Sector: Financial Services Industry: Capital Markets
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| HIVE HIVE Digital Technologies Ltd |
0.29 7.30% | 4.26 | - | 84.75 | 2.77 | 1.47 | 2.26 | 9.39 |
| GS Goldman Sachs Group Inc |
-2.58 0.23% | 1096.56 | 17.21 | 16.00 | 4.47 | 2.26 | 11.15 | |
| MS Morgan Stanley |
-1.79 0.80% | 223.17 | 16.50 | 13.76 | 2.80 | 1.65 | ||
| SCHW Charles Schwab Corp |
-2.81 2.97% | 91.70 | 22.86 | 17.39 | 6.14 | 4.28 | ||
| CIIHF CITIC Securities Company Limited |
- -% | 3.50 | 12.33 | 7.94 | 0.69 | 1.13 | 7.69 |
Data Powered by EOD Historical Data (“EODHD”).
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.
Related Risks: This report may be looked at from high-risk perspective and recommendations are provided are for a short duration. Recommendations provided in this report are solely based on technical parameters, and the fundamental performance of the stocks has not been considered in the decision-making process. Other factors which could impact the stock prices include market risks, regulatory risks, interest rates risks, currency risks, social and political instability risks etc.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels as on February 24, 2026. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned has been achieved and is subject to the factors discussed above.
Note 4: StockNextt reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Target: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Target 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Target 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
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