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A Look At HIVE Digital Technologies (TSXV:HIVE) Valuation After December 2025 Bitcoin Production Update

Simply Wall St · 01/07 13:38

December production results and what they tell you

HIVE Digital Technologies (TSXV:HIVE) has released its December 2025 production update, reporting 306 Bitcoin mined, an average of 9.9 BTC per day, and an average hashrate of 23.3 EH/s, peaking at 24 EH/s.

See our latest analysis for HIVE Digital Technologies.

That production update lands after a sharp reset in sentiment, with a 90 day share price return of 53.67% decline and a 1 year total shareholder return of 6% decline. However, the 3 year total shareholder return of 41.95% gain shows earlier strength, so recent momentum looks more muted than the longer term record.

If this kind of crypto linked data center story interests you, it could be a good moment to widen your watchlist and check out high growth tech and AI stocks as well.

With December production healthy and the share price coming off a steep 90 day slide, you have to ask: is HIVE Digital now trading below what its data center and crypto exposure are worth, or is the market already factoring in future growth?

Price-to-Earnings of 21.2x: Is it justified?

On a last close of CA$4.23, HIVE Digital Technologies trades on a P/E of 21.2x, which sits well below both its software peers and the wider industry.

The P/E ratio compares the share price to earnings per share. For a company like HIVE that is already profitable, it gives you a quick read on how much investors are paying for each dollar of earnings. For data center and software related businesses, P/E is a common yardstick because earnings can be a key driver of long term value.

HIVE is described as good value on a P/E of 21.2x compared with the Canadian Software industry average of 47.3x and a peer group average of 40.6x. This points to a sizeable discount versus similar names. However, when you compare that same 21.2x multiple with an estimated fair P/E of 6.1x, HIVE screens as expensive relative to the level the market could move towards if that fair ratio became the reference point.

Against the industry and peers, the message is clear. HIVE trades at a much lower earnings multiple than many software stocks, yet sits materially above the estimated fair P/E level that some models imply for its fundamentals.

Explore the SWS fair ratio for HIVE Digital Technologies

Result: Price-to-Earnings of 21.2x (ABOUT RIGHT)

However, you still have to weigh risks such as highly volatile crypto revenues and recent 90 day share price pressure, which could quickly reshape how that P/E looks.

Find out about the key risks to this HIVE Digital Technologies narrative.

Build Your Own HIVE Digital Technologies Narrative

If you look at the numbers and reach a different conclusion, or just want to test your own view in detail, you can quickly build a custom narrative and stress test your assumptions with Do it your way.

A great starting point for your HIVE Digital Technologies research is our analysis highlighting 2 key rewards and 5 important warning signs that could impact your investment decision.

Looking for more investment ideas?

If HIVE has caught your attention, do not stop here. Broaden your watchlist and give yourself more quality choices before you commit fresh capital.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.