Recommendation: Speculative Buy
| Entry Date | Symbol | Recommendation | Entry Price (USD) | Target 1 (USD) | Target 2 (USD) | Holding Duration | Potential Upside* |
|---|---|---|---|---|---|---|---|
| 7 Apr, 25 | HIVE | Speculative Buy | USD 1.4 | USD 1.52 | USD 1.6 | 1 day | 14.3% |
*Potential Upside (%) indicates the expected percentage increase from the Entry Price to the Target 2 Price.
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.
Hashrate Expansion: The company’s average Bitcoin mining hashrate increased to 4.3 EH/s, a 23% increase from the previous quarter, indicating stronger mining capacity
Revenue Growth: HIVE generated $21.2 million in revenue in Q3 F2025, representing a 10% increase compared to the previous quarter
Currency Impact on Revenue: The 5% depreciation of the Euro against the U.S. dollar negatively impacted the company’s European revenue, reducing profitability from its overseas operations
Decline in Gross Mining Margin: The gross mining margin fell to 21%, down from 27% in the previous quarter—a 6 percentage point decline, largely due to falling Bitcoin prices
HIVE’s financial performance is highly susceptible to volatility in cryptocurrency prices, particularly Bitcoin, making revenue and profitability unpredictable and dependent on external market forces
| Entry Price | Support* | Target 1 | Target 2 |
|---|---|---|---|
| 1.4 | 1.27 | 1.52 | 1.6 |
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.
HIVE Digital Technologies reported $21.2 million in revenue for the third fiscal quarter of 2025, marking a 10% increase from the previous quarter. This growth was driven primarily by improvements in digital asset mining operations and increased Bitcoin production capacity. The company mined 830 Bitcoin during the quarter, representing a 3% increase compared to the previous quarter. This rise is attributed to the full-scale operation of new mining equipment and increased energy efficiency across facilities.
HIVE’s global hashrate increased to 4.8 EH/s during the quarter, with an average hashrate of 4.3 EH/s. This represents a 23% increase from the previous quarter’s average hashrate. The company’s strategy to deploy energy-efficient ASICs and expand its infrastructure has resulted in improved performance metrics. Power usage efficiency (PUE) was enhanced through facility upgrades, reflecting HIVE’s emphasis on optimizing energy consumption to reduce operational costs.
Despite operational advancements, HIVE experienced a 20% decline in gross mining margin, decreasing from 27% in the prior quarter to 21% in Q3 F2025. This drop was largely due to the sharp decrease in Bitcoin prices during the quarter, which fell by over 15%. Additionally, the depreciation of the Euro against the U.S. dollar by approximately 5% negatively impacted revenues from HIVE’s European data centers, further constraining profitability.
The company reported positive momentum in its GPU-based High Performance Computing (HPC) and artificial intelligence (AI) businesses, which generated $970,000 in revenue. This segment shows promise as HIVE transitions underutilized GPU infrastructure from Ethereum mining into AI-focused workloads. This diversification strategy aims to provide long-term stability by reducing reliance on crypto markets, offering potential for consistent revenue streams in the technology services space.
HIVE ended the quarter with $7.3 million in cash and $65 million in digital assets. The company has taken proactive steps to reduce its debt burden, including the repayment of $3 million in loans. This financial prudence has resulted in a net positive working capital position of $95 million, underscoring the company’s commitment to maintaining fiscal health and improving its liquidity position in a volatile industry.
Two significant challenges face the company: a 20% decline in gross mining margin, and a 5% negative currency impact on European revenues. On the positive side, HIVE achieved a 23% quarter-over-quarter increase in hashrate and a 10% increase in revenue, indicating substantial operational progress. However, these improvements may be hindered by external market factors and internal capacity constraints, especially in regions with limited power availability.
Technical Commentary: HIVE's stock price is currently hovering near key support support levels, suggesting a potential for an upward reversal. The 14-day Relative Strength Index (RSI) is starting to recover from its oversold territory, further supporting a positive outlook. While the stock is presently trading below its 21-period simple moving average, it appears to be on the verge of a recovery, with a possible retracement to these levels in the near future.
As per the above-mentioned price action, recent key business and financial updates, momentum in the stock over the last month, and technical indicators analysis, a ‘Speculative Buy’ rating has been given to HIVE Digital Technologies Ltd. (NASDAQ: HIVE) at its current market price of USD 1.40 as of April 7, 2025 (6:35 am PDT).
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 Blockchain Technologies Ltd |
0.10 6.56% | 1.71 | - | 84.75 | 2.77 | 1.47 | 2.26 | 9.39 |
| MS Morgan Stanley |
2.58 2.34% | 112.97 | 16.50 | 13.76 | 2.80 | 1.65 | ||
| SCHW Charles Schwab Corp |
1.88 2.45% | 78.45 | 22.86 | 17.39 | 6.14 | 4.28 | ||
| GS Goldman Sachs Group Inc |
14.56 2.80% | 534.55 | 18.44 | 10.60 | 2.83 | 1.16 | ||
| CIIHY CITIC Securities Co Ltd ADR |
- -% | 20.98 | 15.86 | 7.89 | 0.98 | 1.07 | 10.27 |
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 Risk: This report may be looked at from a high-risk perspective and a recommendation is provided for a short duration. This report is 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.
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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