Hive Digital Technologies
HIVE
Information Technology
1
exclusion reason
1 theme
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
HIVE Digital Technologies operates bitcoin mining data centres powered predominantly by renewable energy sources across Canada, Sweden, and Paraguay. Its Canadian operations run on hydroelectric power in cool-climate regions. Its Swedish site uses hydro and geothermal energy. In Paraguay, HIVE completed a 200 MW facility (Yguazu) powered by hydroelectric energy from the Itaipu Dam in 2025, reaching 18 EH/s hashrate. The company represents approximately 2% of the global Bitcoin network. While HIVE's energy sourcing is cleaner than most bitcoin miners, the scale of electricity consumption — 200 MW in Paraguay alone — diverts renewable capacity from domestic use in a developing country that exports surplus hydropower.
Research Sources
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A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
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