HIVE Digital Technologies Ltd HIVE

Competitive advantage analysis · financial-services

Corporate Default
Overall moat score
53/100
Moderate

Ranked against 10 peers in Crypto Mining & Compute

About HIVE Digital Technologies Ltd

HIVE Digital Technologies Ltd., a technology company, engages in the building and operating data centers powered by green energy in Bermuda and Paraguay. The Company operates the mining and sale of digital currencies and performance computing hosting. It also provides infrastructure solutions, such as computational capacity to distributed networks in the blockchain industry. The company was formerly known as HIVE … Full HIVE analysis →

Key strengths

  • Margins Stable Across Cycles Operating margin volatility is low (stability score 0.90), demonstrating pricing resilience across cycles.
  • Revenue Growth Consistent Revenue growth volatility is low (stability score 0.70), suggesting sticky customer base.

Key risks

  • Scale Without Profitability Despite scale, profitability lags peers (score 0.35), suggesting limited competitive advantage.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Moderate
66
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Signals, strengths and risks for Pricing Power

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Signals, strengths and risks for Cost Advantage

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Signals, strengths and risks for Customer Stickiness

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Signals, strengths and risks for Capital Efficiency

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Signals, strengths and risks for Resilience

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Signals, strengths and risks for Scale & Market Position

Where HIVE ranks in Crypto Mining & Compute

HIVE Digital Technologies Ltd ranks #4 of 11 scored companies in Crypto Mining & Compute by moat score — the top 36%. The widest moat in the group is CleanSpark, Inc. (CLSK) at 82/100.

# Company Moat score Rating
1 CleanSpark, Inc. CLSK 82/100 Strong
2 Hut 8 Corp. HUT 55/100 Moderate
3 Bitdeer Technologies Group BTDR 55/100 Moderate
4 HIVE Digital Technologies Ltd HIVE 53/100 Moderate
5 Core Scientific, Inc. CORZ 52/100 Moderate
6 Bitfarms Ltd. BITF 48/100 Developing
7 Riot Platforms, Inc. RIOT 44/100 Developing
8 IREN LIMITED IREN 44/100 Developing
9 TeraWulf Inc. WULF 38/100 Developing

See every General Corporate company ranked by moat score →

How HIVE scores on the Corporate Default defenses

Pricing Power

Score 66 · 20% of the moat score

Pricing power is the ability to raise prices without losing volume.

Cost Advantage

Score 68 · 15% of the moat score

A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.

Customer Stickiness

Score 77 · 15% of the moat score

Stickiness is what makes revenue repeat without being re-won every year.

Capital Efficiency

Score 37 · 18% of the moat score

Capital efficiency asks what the company earns on the money tied up in the business.

Resilience

Score 50 · 17% of the moat score

Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.

Scale & Market Position

Score 25 · 15% of the moat score

Scale matters only when it converts into economics.

How each Corporate Default defense is measured, in full →

Understanding HIVE's moat

What is HIVE Digital Technologies Ltd's moat score?

HIVE Digital Technologies Ltd (HIVE) scores 53 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #4 of 11 scored companies in Crypto Mining & Compute, the top 36%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 10 companies in Crypto Mining & Compute. Its strongest defense is Customer Stickiness (77/100) and its weakest is Scale & Market Position (25/100).

How does HIVE Digital Technologies Ltd compare with other Crypto Mining & Compute companies?

HIVE Digital Technologies Ltd ranks #4 of 11 scored companies in Crypto Mining & Compute by moat score. The widest moat in Crypto Mining & Compute is CleanSpark, Inc. (CLSK) at 82/100. The companies ranked closest are Bitdeer Technologies Group (BTDR) at 55 just above it and Core Scientific, Inc. (CORZ) at 52 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 10 companies in Crypto Mining & Compute. The defenses are then weighted to produce the overall score out of 100.

Why is HIVE Digital Technologies Ltd scored with the Corporate Default template?

Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.

Which competitive defenses are measured for HIVE Digital Technologies Ltd?

The Corporate Default template measures 6 defenses, and HIVE scores: Pricing Power (66), Cost Advantage (68), Customer Stickiness (77), Capital Efficiency (37), Resilience (50), Scale & Market Position (25). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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