HIVE (HIVE) Q3 2026 Earnings Call Transcript

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Tuesday, Feb. 17, 2026 astatine 8 a.m. ET

• Co-Founder and Executive Chairman — Frank Edward Holmes

• President and Chief Operating Officer — Nathan Fast

• Chief Executive Officer — Aydin Kilic

• Chief Financial Officer — Darcy Daubaras

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Frank Edward Holmes: Welcome to the amusement by HIVE. I person a batch to stock with you arsenic the Co-Founder and Executive Chairman and springiness you benignant of an overview of what I americium seeing successful the geopolitics astir the satellite and immoderate of the glitches that person happened that person truly impacted the crypto ecosystem. And I volition springiness you besides immoderate what we would similar to telephone the modular deviations that this is simply a large buying accidental based conscionable connected the mathematics of markets, that erstwhile things go overextended connected the downside oregon upside. But earlier getting into this detail, I privation to stock with you that volatility is incredible.

And it is besides predictable erstwhile you instrumentality a look astatine it. You update this each quarter. But the S&P regular is 1% of the time. That means 70% of the time, it is simply a nonevent for the S&P to spell up and down 1%. And implicit 10 days, 3%. Gold is the aforesaid arsenic the S&P 500, but Bitcoin is 3 times greater. That is thing conscionable to admit that the stocks that are successful exertion a caller innovation similar Bitcoin, it conscionable volition acquisition greater volatility.

Tesla utilized to person this 21% volatility implicit 10 days until it became portion of the S&P 500, but you tin inactive spot that connected a regular basis, it is 4 times greater than the volatility of the S&P 500 oregon golden bullion. And we tin besides spot present that implicit 10 days, it is 11% is simply a mean volatility. Strategy, which is absorbing for maine is due to the fact that Strategy was ever higher volatility than HIVE, and present it is the regular ground is positive oregon minus 5%. But implicit 10 days, HIVE has a greater volatility, which surprises maine due to the fact that we bash not person the aforesaid equilibrium sheet.

We person a precise blimpish equilibrium expanse and a precise conservative, pragmatic mode of managing the company's growth. So present is the team. They are each moving hard. Aydin Kilic, Darcy, our CEO and CFO, the longest standing, I think, CEO and CFO successful the industry. So I americium precise blessed astir that. And Nathan has joined america a small implicit a twelvemonth ago. And present fto america get into this macro recap. Here is the picture. And this representation is truly important successful respect that we grew our concern from 6 exahash to 25 exahash successful 2025.

And we are 2% of the planetary network, and you tin spot that 1 of the concern bankers there, Jamie Brown, was connected the crushed level of the instauration of the thought of HIVE. And past you tin spot immoderate of our directors are there. And different cardinal employees, our Chief Operating Officer, the President of Paraguay's operations, and you tin spot Nico is successful there. And you tin spot Aydin Kilic, our CEO, and Johanna Thorblat, who is the President of Operations successful Sweden. We are precise arrogant and blessed that we person been capable to turn this concern and we inactive person much maturation up successful 2026. Very pragmatic and thoughtful expansion.