HIVE
HIVE Blockchain Technologies
Is HIVE Halal?
Cryptocurrency-mining and HPC company with passing known asset ratios but disputed digital-asset activity requiring continuing scholarly review.
What You Should Know
HIVE's March 31, 2026 Form 10-K reports USD 639.146 million of assets, USD 27.486 million of tracked loans and mortgages, USD 23.113 million of cash, USD 9.741 million of investments, USD 17.713 million of receivables and USD 297.791 million of revenue. Debt/assets is 4.30%, liquidity/assets is 5.14% and receivables-plus-cash/assets is 6.38%; the filing discloses finance expense but no universal prohibited-income numerator. Cryptocurrency mining, digital-asset custody, speculation, energy use and HPC customer end uses remain qualitative.
⚠️ Concerns
- •Cryptocurrency mining and digital-asset speculation are disputed across scholarly approaches
- •Digital currencies and custody/exchange exposure
- •Derivative and financing liabilities
- •Energy consumption, data-center operations and HPC customer end uses
Current quantitative Sharia screen
Based on 10-K figures for the period ended 2026-03-31; calculated 2026-07-15.
27.486 / 639.146
32.854 / 639.146
40.826 / 639.146
- Financial
- Incomplete
- Overall
- Incomplete
Debt/assets is 4.30%, liquidity/assets is 5.14% and receivables-plus-cash/assets is 6.38%; no school-neutral income numerator is disclosed and cryptocurrency/HPC activity remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Known debt, liquidity and receivables-plus-cash ratios are below the examined MSCI limits; cryptocurrency-mining and HPC activity remains qualitative.
- Financial
- Pass
- Overall
- Incomplete
Known debt/assets and liquidity/assets are below the examined Malaysia limits; this is a ZakatInvest calculation, not an official SAC classification.
- Financial
- Not calculated
- Overall
- Incomplete
A properly licensed and reproducible historical market-cap series is not stored; filing-based asset ratios remain documented.
Business-activity disclosure
HIVE operates data centers, sells computing power to cryptocurrency-mining pools and provides high-performance-computing services. Cryptocurrency mining and digital assets remain disputed across scholars, while speculation, custody, electricity use, derivatives and AI/HPC end uses require school-specific review.
Limitation: The filing does not reduce cryptocurrency-mining revenue, digital-asset holdings or HPC customer end uses to a universal prohibited-activity numerator.
Purification
The filing discloses finance expense but no scholar-approved prohibited-income percentage or universal activity numerator.
Inputs, assumptions and primary sources
- Amounts are USD millions converted from HIVE's March 31, 2026 Form 10-K, which reports USD thousands.
- Tracked debt is current loans, term loan and mortgage payable totaling USD 27.486 million; lease liabilities are excluded.
- Cash is USD 23.113 million and investments are USD 9.741 million. Digital currencies of USD 10.822 million are not treated as interest-bearing securities.
- Accounts receivable uses USD 15.566 million of amounts receivable and prepaids plus USD 2.147 million of long-term receivables; derivative assets are not treated as ordinary trade receivables.
- Revenue is USD 297.791 million, including USD 278.269 million of digital-currency mining and USD 19.522 million of HPC revenue. The filing discloses finance expense, not a school-neutral prohibited-income numerator.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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