HIVE Digital Technologies Ltd. Leases Disclosure
16. Right of Use Asset and Operating Lease Liability
The Company has lease agreements for its offices, data centers and equipment.
Right of use assets
| 2026 | 2025 | |||||
| Cost | $ | 53,108 | $ | 12,704 | ||
| Accumulated amortization | (10,011 | ) | (7,158 | ) | ||
| Net carrying value | $ | 43,096 | $ | 5,546 |
Lease liabilities
| Operating Leases | Finance Leases | Total | ||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Current | $ | 3,323 | $ | 2,645 | $ | 9,045 | $ | - | $ | 12,368 | $ | 2,645 | ||||||
| Non-current | 10,351 | 3,095 | 20,861 | - | 31,212 | 3,095 | ||||||||||||
| $ | 13,674 | $ | 5,740 | $ | 29,906 | $ | - | $ | 43,580 | $ | 5,740 | |||||||
| 2026 | 2025 | |||||
| Operating Leases | ||||||
| Weighted average discount rate | 7.27% | 6.00% | ||||
| Weighted average remaining lease term (in years) | 4.85 | 2.42 | ||||
| Financing Leases | ||||||
| Weighted average discount rate | 9.90% | - | ||||
| Weighted average remaining lease term (in years) | 3.00 |
Additional information on the lease liabilities as at March 31, 2026 is as follows:
| Operating leases |
Finance leases | Total | |||||||
| 2027 | $ | 4,155 | $ | 11,404 | $ | 15,559 | |||
| 2028 | 3,154 | 11,404 | 14,558 | ||||||
| 2029 | 2,407 | 11,405 | 13,812 | ||||||
| 2030 | 2,180 | - | 2,180 | ||||||
| Thereafter | 4,423 | - | 4,423 | ||||||
| Total undiscounted lease liabilities | 16,319 | 34,213 | 50,532 | ||||||
| Interest on lease liabilities | (2,645 | ) | (4,307 | ) | (6,952 | ) | |||
| Total present value of minimum lease payments | $ | 13,674 | $ | 29,906 | $ | 43,580 | |||
| Lease liability - current portion | $ | 3,323 | $ | 9,045 | $ | 12,368 | |||
| Lease liability | $ | 10,351 | $ | 20,861 | $ | 31,212 |
Additional information on the lease liabilities as at March 31, 2025 is as follows:
| Operating leases |
Finance leases | Total | |||||||
| 2026 | $ | 2,900 | $ | - | $ | 2,900 | |||
| 2027 | 2,014 | - | 2,014 | ||||||
| 2028 | 981 | - | 981 | ||||||
| 2029 | 251 | - | 251 | ||||||
| Total undiscounted lease liabilities | 6,146 | - | 6,146 | ||||||
| Interest on lease liabilities | (406 | ) | - | (406 | ) | ||||
| Total present value of minimum lease payments | $ | 5,740 | $ | - | $ | 5,740 | |||
| Lease liability - current portion | $ | 2,645 | $ | - | $ | 2,645 | |||
| Lease liability | $ | 3,095 | $ | - | $ | 3,095 |
The Company incurred the following lease costs which were recorded in operating and maintenance costs in the consolidated statements of loss and comprehensive loss:
| 2026 | 2025 | 2024 | |||||||
| Variable lease costs (CPI adjustments) | $ | 418 | $ | 281 | $ | 176 | |||
| Operating lease costs: | |||||||||
| Depreciation of lease assets | 2,790 | 2,402 | $ | 2,181 | |||||
| Interest on lease liabilities | 341 | 392 | 511 | ||||||
| Finance lease costs: | |||||||||
| Depreciation of lease assets | 800 | - | - | ||||||
| Interest on lease liabilities | 239 | - | - | ||||||
| Total lease costs | $ | 4,588 | $ | 3,075 | 2,868 |
Cash paid for amounts included in the measurement of lease liabilities:
| 2026 | 2025 | 2024 | |||||||
| Cash flows from operating leases | $ | 3,381 | $ | 2,794 | $ | 2,687 | |||
| Cash flows from finance leases | $ | - | $ | - | $ | - |
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About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.