Hive Digital Technologies reports a 158% revenue increase to $297.8 million for fiscal 2026, driven by Bitcoin mining and AI initiatives.
Hive Digital Technologies Sees Revenue Surge Amid AI and Bitcoin Growth
Hive Digital Technologies has posted impressive revenue figures for the fiscal year ending March 31, achieving $297.8 million, a significant increase of 158% from the previous year. This growth is largely attributed to the rising Bitcoin prices and a substantial expansion in mining operations, as the Canadian firm positions itself within the artificial intelligence (AI) sector.
During the fiscal year, Hive successfully mined 2,885 Bitcoin, more than doubling its output from 1,414 BTC in fiscal 2025. The average Bitcoin price rose to around $98,000, compared to approximately $75,900 the year prior, contributing to the company's revenue boost.
Despite the uptick in mining production, Hive's Bitcoin holdings decreased, ending the fiscal year with 150 BTC valued at about $10 million, down from 481 BTC at the end of 2025.
Beyond cryptocurrency, Hive has significant ambitions in the AI space. Its high-performance computing division, BUZZ HPC, reported a revenue increase of 94% to $19.5 million, highlighting its potential as a key growth driver. The company also announced plans for a 320-megawatt AI data center in the Greater Toronto Area, which is set to become the largest private AI facility in Canada, equipped to host over 100,000 Nvidia GPUs. Hive aims to achieve $660 million in annual recurring revenue from its computing operations by 2028.
However, the company faced challenges, recording a GAAP net loss of $148.4 million for the year, with about $221 million of that attributed to non-cash expenses like depreciation. Hive operates across Canada, Sweden, and Paraguay, utilizing renewable energy sources, and currently has a total installed hash rate of 25.1 exahashes per second.
Following the announcement, Hive's shares (HIVE) fell approximately 2.6%, trading at $4.63 after reaching a session high of $4.97, according to Yahoo Finance.
