Summary
- Hive Digital Technologies experienced a significant revenue increase, reaching $297.8 million in fiscal 2026, largely due to rising Bitcoin prices and a fourfold boost in mining capability.
- During the year, the company mined 2,885 Bitcoin while also venturing into AI computing, with its BUZZ HPC division seeing a 94% revenue rise to $19.5 million.
- HIVE is making a substantial investment in AI infrastructure, revealing plans for a 320-megawatt data center near Toronto, aiming to establish it as the largest private AI facility in Canada.
Hive Digital Technologies has reported a remarkable increase in revenue for the fiscal year ending March 31, driven by last year's climbing Bitcoin prices and a fast-growing computing sector, as the Canadian miner seeks to position itself as a key player in the artificial intelligence infrastructure market.
The company achieved total revenue of $297.8 million for fiscal 2026, marking a 158% rise compared to the previous year, primarily due to a substantial growth in its Bitcoin mining operations.
Hive mined 2,885 Bitcoin during the fiscal year, more than doubling the 1,414 it produced in fiscal 2025, benefiting from an average Bitcoin price of around $98,000, up from approximately $75,900 the previous year.
Despite the increase in mining rewards, Hive's Bitcoin holdings decreased over the year. As of the fiscal year's end, the company reported having 150 BTC—valued at about $10 million—down from 481 BTC as of December 31.
Hive's ambitions, however, extend beyond the cryptocurrency space. Its high-performance computing segment, BUZZ HPC, recorded $19.5 million in revenue, a 94% increase year-over-year, with executives viewing it as the key driver for future growth.
In May, Hive unveiled plans for a 320-megawatt AI data center in the Greater Toronto Area, which aims to accommodate over 100,000 Nvidia GPUs upon completion—this project is branded as Canada's largest planned private AI infrastructure. The company has set an ambitious goal of achieving $660 million in annual recurring revenue from its computing operations by the end of 2028.
However, the financial results were not without challenges. HIVE recorded a GAAP net loss of $148.4 million for the year, although the company indicated that approximately $221 million of this loss consisted of non-cash expenses, including depreciation.
Hive operates in Canada, Sweden, and Paraguay, all utilizing green energy, and boasts a total installed hash rate of 25.1 exahashes per second.
Shares of Hive (HIVE) have decreased by about 2.6% today, recently trading at $4.63 according to Yahoo Finance, after reaching a peak of $4.97 earlier in the session.