How did Hive Digital Technologies (NASDAQ: HIVE) perform in fiscal 2026?

Hive reported fiscal 2026 revenue of $297.8 million, up 158% from the previous year. The growth was driven by higher Bitcoin prices, increased mining capacity and expansion into AI-focused computing services.

How much Bitcoin did Hive mine in fiscal 2026?

Hive mined 2,885 Bitcoin during fiscal 2026, more than double the 1,414 Bitcoin produced in fiscal 2025. The company also benefited from an average Bitcoin price of roughly $98,000 during the year.

Why did Hive's revenue increase so sharply?

The revenue jump was primarily driven by stronger Bitcoin production and higher cryptocurrency prices. Expanded mining infrastructure and growth in the company's AI computing division also contributed to the increase.

What is Hive's AI strategy?

Hive is expanding beyond cryptocurrency mining into high-performance computing and artificial intelligence infrastructure. The company views AI services as a major long-term growth opportunity that can complement its existing data centre operations.

What is the BUZZ HPC division?

BUZZ HPC is Hive's high-performance computing business focused on AI and enterprise computing workloads. The division generated $19.5 million in revenue during fiscal 2026, representing 94% year-over-year growth.

What is Hive building near Toronto?

Hive plans to develop a 320-megawatt AI data centre in the Greater Toronto Area. The facility is expected to house more than 100,000 Nvidia GPUs and could become Canada's largest privately owned AI infrastructure project.

Is Hive still primarily a Bitcoin mining company?

Bitcoin mining remains Hive's largest business segment, but the company is actively diversifying. Management is investing heavily in AI infrastructure to reduce dependence on cryptocurrency mining revenue over time.

Why did Hive report a net loss despite strong revenue growth?

Hive reported a GAAP net loss of $148.4 million. However, the company said approximately $221 million of losses were non-cash items such as depreciation, meaning they did not directly affect operating cash flow.

Image for illustrative purposes only. Not a real photo.

Hive revenue jumps as AI expansion accelerates

Written by Liezl GambePublished Jun 3, 2026, 1:25 AM

Hive Digital Technologies reported fiscal 2026 revenue of $297.8 million, a 158% increase from the previous year, as higher Bitcoin prices and expanded mining capacity boosted its cryptocurrency operations.

The company mined 2,885 Bitcoin during the fiscal year ended March 31, more than doubling production from 1,414 Bitcoin a year earlier, while benefiting from an average Bitcoin price of approximately $98,000.

Hive's high-performance computing division, BUZZ HPC, generated $19.5 million in revenue, representing 94% year-over-year growth as the company continued its push into artificial intelligence infrastructure.

The company announced plans in May to develop a 320-megawatt AI data centre in the Greater Toronto Area capable of housing more than 100,000 Nvidia graphics processing units, a project Hive describes as Canada's largest planned privately owned AI facility.

Hive is targeting $660 million in annual recurring revenue from its computing operations by the end of 2028 as it seeks to diversify beyond cryptocurrency mining.

Despite strong revenue growth, the company reported a GAAP net loss of $148.4 million, though management said roughly $221 million of losses were non-cash charges including depreciation expenses.

Hive operates mining facilities in Canada, Sweden and Paraguay powered by renewable energy sources and reported a total installed mining capacity of 25.1 exahashes per second at the end of the fiscal year.

At the time of reporting, Bitcoin price was $66,930.23.