HIVE posts $84.9 million fiscal Q2 revenue

HIVE Digital Technologies (NASDAQ:HIVE) reported fiscal second-quarter 2027 revenue of US$84.9 million for the quarter ended September 30, 2026, up 7.3% sequentially but down 2.7% year-over-year.

High-performance computing (HPC) revenue increased 70.7% year-over-year to US$8.8 million, reflecting growth in the company's artificial intelligence and cloud computing operations.

Non-GAAP gross operating margin reached US$30.2 million, representing 35.6% of revenue, while adjusted EBITDA, a non-GAAP earnings measure, totalled US$24.8 million.

The company reported that its GAAP net loss included US$54.9 million in depreciation and US$31.2 million in equipment impairment charges, while quarterly share sales generated approximately US$43.2 million in gross proceeds.

HIVE ended September with US$139 million in cash and cash equivalents, alongside US$22.6 million in digital currencies, while its GPU Cloud business generated approximately US$40 million in annualized revenue from live operations and had approximately US$185 million in contracted annualized revenue, including capacity not yet operational.

The company targets approximately US$200 million in GPU Cloud annualized run-rate revenue by the fourth quarter of calendar 2026, subject to financing and deployment conditions, as it expands its high-performance computing and artificial intelligence infrastructure.