EXCLUSIVE: HIVE Is Building A Growth 'Flywheel', Not Chasing Bitcoin Cycles, CEO Says

Crypto mining has long been defined by boom-and-bust cycles. But HIVE Digital Technologies Ltd (NASDAQ:HIVE) says its next phase isn't about timing Bitcoin (CRYPTO: BTC) — it's about building a business that can perform across cycles. Track HIVE stock here. In a Benzinga exclusive interview over email, HIVE co-founder and executive chairman Frank Holmes pointed to the company's rapid expansion in Paraguay as a blueprint for where HIVE wants to be heading into 2026. "Paraguay demonstrates how we want HIVE positioned going into 2026: as a disciplined, global operator converting renewable energy into high-value digital infrastructure rapidly and responsibly," Holmes said. Read Also: $8 Billion Mistake: Wall Street Underprices Bitcoin Miners By 28%, JPMorgan Says Efficiency Before Scale That approach marks a clear departure from past crypto cycles. "In earlier cycles, scale often came before efficiency," Holmes said. "Today, efficiency comes first." Rather than chasing headline growth, HIVE is leaning on low-cost renewable power, disciplined capital allocation and flexible infrastructure. Holmes described the result as "a flywheel effect that compounds growth," instead of a model built around short-cycle speculation. Sustainability As A Competitive Edge For HIVE, hydropower isn't just a sustainability talking point. Holmes said it creates a strategic advantage. "Running on nearly 100% hydropower gives HIVE a first-mover advantage in sustainable digital infrastructure," he said, adding that it helps position the company as a credible partner for governments, utilities and enterprise customers. Margins Over Hash Rate Looking toward 2026, Holmes emphasized that capacity growth alone isn't the goal. "The priority is protecting margins through efficiency and discipline," he said. "Capacity only matters if it is profitable and resilient." Success, he added, will be measured by perception as much as production. Holmes said HIVE wants to be recognized as "a trusted, durable digital infrastructure company" known for "operational excellence, renewable energy leadership, compliance, and the ability to deliver secure compute at scale." That flexibility also leaves room for AI and high-performance computing, which Holmes said are "already meaningful opportunities" that create "a dual engine for growth." Summing it up, Holmes told investors: "We turn renewable energy into resilient, revenue-generating digital infrastructure built to perform across market cycles." Read Next: HIVE Says It Should Be A $20 Stock Image: Shutterstock