BITF.TO vs. HIVE

Last updated Jun 4, 2026

BITF.TO (Bitfarms Ltd) and HIVE (HIVE Blockchain Technologies Ltd) are both stocks. Both operate in the Capital Markets industry within the Financial Services sector. Over the past 5 years, BITF.TO returned 9.79%/yr vs -16.54%/yr for HIVE. A 0.69 correlation means they provide meaningful diversification when combined.

Performance

BITF.TO vs. HIVE - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Bitfarms Ltd (BITF.TO) and HIVE Blockchain Technologies Ltd (HIVE). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

BITF.TO is traded in CAD, while HIVE is traded in USD. To make them comparable, the HIVE values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, BITF.TO achieves a 166.25% return, which is significantly higher than HIVE's 71.93% return.

BITF.TO

• 1D: 1.30%
• 1M: 95.01%
• YTD: 166.25%
• 6M: 99.07%
• 1Y: 582.54%
• 3Y*: 74.45%
• 5Y*: 9.79%
• 10Y*: —

HIVE

• 1D: -3.13%
• 1M: 71.82%
• YTD: 71.93%
• 6M: 33.02%
• 1Y: 135.98%
• 3Y*: 11.74%
• 5Y*: -16.54%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BITF.TO vs. HIVE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BITF.TO Bitfarms Ltd	166.25%	51.64%	-44.68%	587.50%	-91.22%	155.20%	400.00%	-75.00%
HIVE HIVE Blockchain Technologies Ltd	71.93%	-13.63%	-31.68%	207.65%	-88.31%	38.42%	2,554.37%	-76.87%

Correlation

The correlation between BITF.TO and HIVE is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jul 17, 2019	0.69

The correlation between BITF.TO and HIVE shifts across timeframes, from 0.69 (all time) to 0.79 (3 years), reflecting how their relationship changes across market environments.

Fundamentals

EPS BITF.TO : -CA$0.56 HIVE : -$0.33
PS Ratio BITF.TO : 24.50 HIVE : 3.75
Total Revenue (TTM) BITF.TO : CA$199.32M HIVE : $257.14M
Gross Profit (TTM) BITF.TO : -CA$44.60M HIVE : $58.57M
EBITDA (TTM) BITF.TO : -CA$99.48M HIVE : $87.81M

Return for Risk

BITF.TO vs. HIVE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BITF.TO

BITF.TO Risk / Return Rank: 95
BITF.TO Sharpe Ratio Rank: 99
BITF.TO Sortino Ratio Rank: 95
BITF.TO Omega Ratio Rank: 93
BITF.TO Calmar Ratio Rank: 96
BITF.TO Martin Ratio Rank: 91

HIVE

HIVE Risk / Return Rank: 74
HIVE Sharpe Ratio Rank: 79
HIVE Sortino Ratio Rank: 80
HIVE Omega Ratio Rank: 75
HIVE Calmar Ratio Rank: 72
HIVE Martin Ratio Rank: 65

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BITF.TO vs. HIVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitfarms Ltd (BITF.TO) and HIVE Blockchain Technologies Ltd (HIVE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BITF.TO	HIVE	Difference
Sharpe ratio: Return per unit of total volatility	5.23	1.45	+3.77
Sortino ratio: Return per unit of downside risk	4.19	2.35	+1.85
Omega ratio: Gain probability vs. loss probability	1.50	1.27	+0.23
Calmar ratio: Return relative to maximum drawdown	7.90	1.82	+6.08
Martin ratio: Return relative to average drawdown	13.09	2.93	+10.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BITF.TO vs. HIVE - Sharpe Ratio Comparison

The current BITF.TO Sharpe Ratio is 5.23, which is higher than the HIVE Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of BITF.TO and HIVE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BITF.TO	HIVE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.23	1.45	+3.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	-0.18	+0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	-0.10	+0.30

Drawdowns

BITF.TO vs. HIVE - Drawdown Comparison

The maximum BITF.TO drawdown since its inception was -95.19%, roughly equal to the maximum HIVE drawdown of -97.60%. Use the drawdown chart below to compare losses from any high point for BITF.TO and HIVE.

Drawdown Indicators

	BITF.TO	HIVE	Difference
Max Drawdown Largest peak-to-trough decline	-95.19%	-97.60%	+2.41%
Max Drawdown (1Y) Largest decline over 1 year	-74.40%	-75.02%	+0.62%
Max Drawdown (3Y) Largest decline over 3 years	-79.84%	-78.53%	-1.31%
Max Drawdown (5Y) Largest decline over 5 years	-95.19%	-93.82%	-1.37%
Current Drawdown Current decline from peak	-22.03%	-82.01%	+59.98%
Average Drawdown Average peak-to-trough decline	-69.64%	-77.86%	+8.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	44.80%	46.59%	-1.79%

Volatility

BITF.TO vs. HIVE - Volatility Comparison

The current volatility for Bitfarms Ltd (BITF.TO) is 26.59%, while HIVE Blockchain Technologies Ltd (HIVE) has a volatility of 35.63%. This indicates that BITF.TO experiences smaller price fluctuations and is considered to be less risky than HIVE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BITF.TO	HIVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	26.59%	35.63%	-9.04%
Volatility (6M) Calculated over the trailing 6-month period	68.77%	64.45%	+4.32%
Volatility (1Y) Calculated over the trailing 1-year period	112.47%	94.40%	+18.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	103.47%	91.04%	+12.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	120.89%	107.68%	+13.21%

Dividends

BITF.TO vs. HIVE - Dividend Comparison

Neither BITF.TO nor HIVE has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both BITF.TO and HIVE in my portfolio?

BITF.TO and HIVE have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.