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    HIVE Digital Technologies (TSX:HIVE) Stock May Be Undervalued Following $1M Daily Revenue

    Simply Wall St·09/16/2026 19:21:21
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    HIVE Digital Technologies has seen its share price move sharply over recent years, while the business shifts from pure Bitcoin mining toward higher value GPU cloud and AI infrastructure. That mix of share performance and business change raises a direct question for investors who follow HIVE Digital Technologies, which is whether the current market value is supported by the revenue the company is generating.

    • Over the past 5 years the stock has fallen 75.1%, which puts the focus squarely on whether today's valuation can still be explained by its sales base.
    • Recent news that HIVE Digital has surpassed US$1m in average daily revenue, with GPU cloud contracts adding a new stream alongside Bitcoin mining, may support different expectations for how quickly sales can grow and how dependable they could become.
    • Before you settle on a price for HIVE Digital Technologies, see what its peers cost. See how HIVE Digital Technologies's 2.4x P/S compares with its peers.

    The issue now is whether HIVE Digital Technologies' current share price is justified by the revenue investors can see today and reasonably connect to its sales track record.

    If you are weighing HIVE Digital Technologies against other AI infrastructure and compute plays, a focused screen of 60 AI infrastructure stocks.

    Does HIVE Digital Technologies Look Undervalued on Sales?

    P/S is a useful lens for HIVE Digital Technologies because revenue is currently more visible than consistent profits or free cash flow. On this measure, the stock trades on a P/S of 2.4x, compared with a Software industry average of about 2.8x and a peer group around 3.2x. That places the current tag below both broad sector pricing and closer listed rivals on a simple sales basis.

    The fair multiple implied by HIVE Digital Technologies' own profile, including its risk, margins and size, sits above the market P/S it currently carries, which points to the shares screening as undervalued on this framework. Because the recent news points to HIVE Digital passing US$1m in average daily revenue and adding GPU cloud contracts alongside Bitcoin mining, the current discount on P/S comes despite those additional revenue lines being visible to investors today. Explore the numbers behind HIVE Digital Technologies's P/S valuation.

    TSX:HIVE P/S Ratio as at Sep 2026
    TSX:HIVE P/S Ratio as at Sep 2026

    The HIVE Digital Technologies Narrative: What Would Justify Today's Price?

    Simply Wall St Narratives for HIVE Digital Technologies pick up where the valuation puzzle leaves off on the Community page. They spell out what kind of future growth, margins and earnings would need to unfold for the stock to trade meaningfully higher or lower than it does today. Each scenario ties a fair value estimate to a clear set of potential catalysts and risks so you can track which storyline appears to be taking shape over time.

    A written, number driven Narrative on HIVE Digital Technologies gives you a clear way to test whether milestones like US$1m in average daily revenue and more than US$600m of GPU cloud contract value line up with the valuation the stock carries today. It sets out explicit assumptions on how that Bitcoin mining and GPU cloud mix might develop, so you can track where execution, margins and contract conversion actually land as new figures are reported.

    Share your own Narrative for HIVE Digital Technologies and set out the assumptions behind your valuation.

    One more angle on HIVE Digital Technologies that could change your view

    There is a separate strand of research on HIVE Digital Technologies that focuses on specific risk checks and alerts, and those findings are worth weighing for yourself before drawing any firm conclusion. Take a closer look at 4 warning signs before settling on a valuation.

    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.