HIVE Digital Technologies to Report Q1 Earnings: What to Expect?

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.

7 Best Stocks for the Next 30 Days

Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."

Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention. 

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research