Updated
The most significant concentration HIVE Digital Technologies discloses is Fireblocks at 89%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
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Source: HIVE Digital Technologies’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
“10-K Item 1: 'the percentages of the Company's assets held with Bank Frick was approximately 11% and 89% was maintained by Fireblocks which represented over 98% of the Company's entire digital currency assets, with a market value of approximately $10.8 million.'”
“10-K Item 1A: 'Our business is highly dependent on a small number of equipment suppliers ... historically Bitmain has been a key supplier of equipment.'”
“10-K Item 1: 'The contracted term of the power purchase agreement at the Yguazú Facility extends until December 31, 2027. Thereafter, continued operation will rely on the Company's ability to renegotiate this agreement.'”
“10-K Item 1: 'The contracted term of the power purchase agreement for the Valenzuela Facility extends until December 31, 2027. Thereafter, continued operation of the facility will depend on the Company's ability to renegotiate or enter into a replacement power purchase arrangement on commercially acceptable terms.'”
HIVE Digital Technologies carries several high-share dependency exposures at once, each tied to a different counterparty. Custody is concentrated with Fireblocks, which held approximately 89% of the company's digital currency assets — a high-share dependency on a single custodian. On the equipment side, the company is highly dependent on a small number of suppliers, historically including Bitmain, another high-share dependency given how central mining hardware is to the business. Power supply carries similar risk: the Yguazú Facility's power purchase agreement runs only through the end of 2027, after which continued operation depends on successfully renegotiating terms, a high-share dependency for that site, while the Valenzuela Facility's power purchase agreement faces the same 2027 expiration but is disclosed at a medium share. Taken together, these exposures show a business whose operations hinge on renewing or maintaining a handful of specific counterparty relationships — a custodian, an equipment supplier, and two power agreements — rather than on diversified, structural features of the business. The clustering of expiration dates around 2027 for both power agreements is a specific, time-bound risk investors should track directly rather than treat as a diffuse background concern.
For the engine’s reasoning on HIVE’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| CLSK | CleanSpark, Inc. | 3 | 1 | 0 | 4 |
| HIVE● | HIVE Digital Technologies Ltd | 3 | 1 | 0 | 4 |
| BTBT | Bit Digital, Inc. | 2 | 1 | 0 | 3 |
| BMNR | BitMine Immersion Technologies, | 1 | 0 | 0 | 1 |
| BTGO | BitGo Holdings, Inc. | 0 | 1 | 0 | 1 |
| BGC | BGC Group, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.