HIVE Digital Technologies Ltd. HIVE is slated to report first-quarter 2026 results on Aug. 14, after the market closes. The company’s quarterly results are likely to display a year-over-year increase in revenues but a dip in earnings per share (EPS).
In the last reported quarter, this bitcoin miner reported a loss of 28 cents per share, wider than the Zacks Consensus Estimate of a loss of 21 cents. HIVE’s performance was mainly impacted by a sharp decline in Bitcoin prices and record-high network difficulty, which compressed hash price and mining margins.
Over the preceding four quarters, HIVE’s EPS lagged the Zacks Consensus Estimate on three occasions and outpaced it in the remaining, the average miss being 66.37%. This is depicted in the graph below:
HIVE: Factors at Play and Q1 Projections
HIVE Digital Technologies’ fiscal first-quarter 2026 results are expected to reflect continued expansion of its Bitcoin mining capacity, supported by the ongoing ramp-up of its Paraguay operations. Higher operating hash rate, improved fleet efficiency and comparatively attractive power costs in Paraguay and New Brunswick should have supported Bitcoin production, mining revenues and gross mining margins, although the magnitude of the improvement will remain sensitive to Bitcoin prices and network difficulty.
The BUZZ high-performance-computing business is also likely to provide an incremental contribution after reaching an annualized revenue run rate of more than $20 million and benefiting from strong utilization of HIVE’s roughly 5,100-GPU installed base.
However, the larger Toronto AI data-center opportunity is unlikely to have been a meaningful first-quarter contributor, given management’s indicated nine-to-12-month retrofit timeline. Profitability could have remained constrained by elevated depreciation, expansion-related operating expenses and higher G&A as HIVE builds out Paraguay and its HPC platform, while GAAP earnings may have been volatile because digital assets are marked to fair value under U.S. GAAP.
The Zacks Consensus Estimate for first-quarter revenues is pegged at $80.06 million, implying a 75.53% increase from the prior-year quarter’s reported number.
HIVE’s activities in the to-be-reported quarter were inadequate in garnering analysts’ confidence. The Zacks Consensus Estimate for first-quarter EPS has remained unchanged at negative 21 cents over the past three months. It suggests a significant decline from the year-ago quarter’s tally.
What Our Quantitative Model Predicts for HIVE
Our proven model does not conclusively predict a surprise in terms of EPS for HIVE this quarter. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an EPS beat, which is not the case here.
HIVE has an Earnings ESP of 0.00% and currently carries a Zacks Rank of 3. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Performance of Other Bitcoin Miners
MARA Holdings MARA reported a second-quarter 2026 adjusted loss of $1.60 per share. Results reflected the impact of lower Bitcoin prices and higher costs.
Riot Platforms RIOT reported a second-quarter 2026 adjusted loss of 68 cents per share. The EPS fall came despite higher revenues, as lower Bitcoin prices weighed on profitability.
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HIVE Digital Technologies Ltd. (HIVE): Free Stock Analysis Report
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Riot Platforms, Inc. (RIOT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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