vs
Side-by-side financial comparison of HIVE Digital Technologies Ltd. (HIVE) and TERAWULF INC. (WULF). Click either name above to swap in a different company.
HIVE Digital Technologies Ltd. is the larger business by last-quarter revenue ($93.1M vs $26.1M, roughly 3.6× TERAWULF INC.). HIVE Digital Technologies Ltd. runs the higher net margin — -98.1% vs -484.2%, a 386.1% gap on every dollar of revenue. On growth, HIVE Digital Technologies Ltd. posted the faster year-over-year revenue change (218.6% vs -25.3%). Over the past eight quarters, HIVE Digital Technologies Ltd.'s revenue compounded faster (102.2% CAGR vs -21.5%).
Mastech Digital, Inc. is a digital transformation and information technology (IT) services company headquartered in Pittsburgh, Pennsylvania, providing services to corporations across North America, Middle East, Asian, and Japan.
TeraWulf Inc. is an American bitcoin mining company. Founded in 2021 and publicly listed on Nasdaq under the ticker WULF, it operates mining facilities in New York and Pennsylvania.
HIVE vs WULF — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $93.1M | $26.1M |
| Net Profit | $-91.3M | $-126.6M |
| Gross Margin | -27.1% | 27.7% |
| Operating Margin | — | -330.2% |
| Net Margin | -98.1% | -484.2% |
| Revenue YoY | 218.6% | -25.3% |
| Net Profit YoY | -234.0% | -333.5% |
| EPS (diluted) | $-0.38 | $-0.32 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $93.1M | $26.1M | ||
| Q3 25 | $87.3M | $50.6M | ||
| Q2 25 | $45.6M | $47.6M | ||
| Q1 25 | — | $34.4M | ||
| Q4 24 | $29.2M | $35.0M | ||
| Q3 24 | $22.6M | $27.1M | ||
| Q2 24 | $32.2M | $35.6M | ||
| Q1 24 | — | $42.4M |
| Q4 25 | $-91.3M | $-126.6M | ||
| Q3 25 | $-15.8M | $-455.1M | ||
| Q2 25 | $35.0M | $-18.4M | ||
| Q1 25 | — | $-61.4M | ||
| Q4 24 | $68.2M | $-29.2M | ||
| Q3 24 | $80.0K | $-22.7M | ||
| Q2 24 | $-18.3M | $-10.9M | ||
| Q1 24 | — | $-9.6M |
| Q4 25 | -27.1% | 27.7% | ||
| Q3 25 | 4.7% | 57.2% | ||
| Q2 25 | -13.6% | 53.6% | ||
| Q1 25 | — | 28.6% | ||
| Q4 24 | -43.7% | 26.6% | ||
| Q3 24 | -66.1% | 40.0% | ||
| Q2 24 | -7.4% | 60.9% | ||
| Q1 24 | — | 66.0% |
| Q4 25 | — | -330.2% | ||
| Q3 25 | — | -48.8% | ||
| Q2 25 | — | -32.7% | ||
| Q1 25 | — | -173.3% | ||
| Q4 24 | — | -147.0% | ||
| Q3 24 | — | -58.1% | ||
| Q2 24 | — | -19.0% | ||
| Q1 24 | — | -5.5% |
| Q4 25 | -98.1% | -484.2% | ||
| Q3 25 | -18.1% | -899.7% | ||
| Q2 25 | 76.8% | -38.6% | ||
| Q1 25 | — | -178.5% | ||
| Q4 24 | 233.2% | -83.5% | ||
| Q3 24 | 0.4% | -84.0% | ||
| Q2 24 | -56.7% | -30.6% | ||
| Q1 24 | — | -22.7% |
| Q4 25 | $-0.38 | $-0.32 | ||
| Q3 25 | $-0.07 | $-1.13 | ||
| Q2 25 | $0.18 | $-0.05 | ||
| Q1 25 | — | $-0.16 | ||
| Q4 24 | $0.52 | $-0.09 | ||
| Q3 24 | $0.00 | $-0.06 | ||
| Q2 24 | $-0.17 | $-0.03 | ||
| Q1 24 | — | $-0.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $3.3B |
| Total DebtLower is stronger | — | $3.1B |
| Stockholders' EquityBook value | $559.3M | $140.4M |
| Total Assets | $624.0M | $6.6B |
| Debt / EquityLower = less leverage | — | 22.06× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | $711.3M | ||
| Q2 25 | — | $90.0M | ||
| Q1 25 | — | $218.2M | ||
| Q4 24 | $40.5M | $274.1M | ||
| Q3 24 | $31.7M | $23.9M | ||
| Q2 24 | — | $104.1M | ||
| Q1 24 | — | $45.8M |
| Q4 25 | — | $3.1B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $72.3M | ||
| Q1 24 | — | $99.4M |
| Q4 25 | $559.3M | $140.4M | ||
| Q3 25 | $624.6M | $247.3M | ||
| Q2 25 | $560.5M | $174.3M | ||
| Q1 25 | — | $170.4M | ||
| Q4 24 | $430.9M | $244.4M | ||
| Q3 24 | $275.5M | $372.6M | ||
| Q2 24 | $268.6M | $386.2M | ||
| Q1 24 | — | $272.3M |
| Q4 25 | $624.0M | $6.6B | ||
| Q3 25 | $693.0M | $2.5B | ||
| Q2 25 | $628.7M | $869.4M | ||
| Q1 25 | — | $841.2M | ||
| Q4 24 | $478.6M | $787.5M | ||
| Q3 24 | $334.7M | $405.9M | ||
| Q2 24 | — | $479.6M | ||
| Q1 24 | — | $395.4M |
| Q4 25 | — | 22.06× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.19× | ||
| Q1 24 | — | 0.37× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $46.0M | $-123.2M |
| Free Cash FlowOCF − Capex | — | $-1.2B |
| FCF MarginFCF / Revenue | — | -4527.0% |
| Capex IntensityCapex / Revenue | — | 4055.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-1.7B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $46.0M | $-123.2M | ||
| Q3 25 | $-10.6M | $-36.7M | ||
| Q2 25 | $10.2M | $-54.8M | ||
| Q1 25 | — | $56.5M | ||
| Q4 24 | $-28.5M | $-24.4M | ||
| Q3 24 | $-2.2M | $-20.9M | ||
| Q2 24 | $-4.4M | $16.4M | ||
| Q1 24 | — | $22.8M |
| Q4 25 | — | $-1.2B | ||
| Q3 25 | — | $-268.3M | ||
| Q2 25 | — | $-174.8M | ||
| Q1 25 | — | $-37.2M | ||
| Q4 24 | $-55.5M | $-292.4M | ||
| Q3 24 | $-34.7M | $-41.7M | ||
| Q2 24 | — | $-30.2M | ||
| Q1 24 | — | $-24.1M |
| Q4 25 | — | -4527.0% | ||
| Q3 25 | — | -530.4% | ||
| Q2 25 | — | -366.8% | ||
| Q1 25 | — | -108.1% | ||
| Q4 24 | -189.9% | -835.7% | ||
| Q3 24 | -153.4% | -153.9% | ||
| Q2 24 | — | -84.9% | ||
| Q1 24 | — | -56.9% |
| Q4 25 | — | 4055.8% | ||
| Q3 25 | — | 457.8% | ||
| Q2 25 | — | 251.8% | ||
| Q1 25 | — | 272.3% | ||
| Q4 24 | 92.5% | 765.9% | ||
| Q3 24 | 143.9% | 76.6% | ||
| Q2 24 | — | 131.0% | ||
| Q1 24 | — | 110.7% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.29× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.42× | — | ||
| Q3 24 | -26.94× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
