Bitcoin Miner Hive Reports Revenue Surge Amid AI Pivot

Hive Digital Technologies posted a sharp revenue surge for its fiscal year ending March 31, riding last year's Bitcoin price rally and a fast-growing computing business as the Canadian miner works to reinvent itself as a player in AI infrastructure.

Total revenue came in at $297.8 million for fiscal 2026, a 158% jump year-over-year, driven mostly by a dramatic expansion of its Bitcoin mining operations.

Hive mined 2,885 Bitcoin during the year—more than double the 1,414 it produced in fiscal 2025—while benefiting from an average Bitcoin price of roughly $98,000, compared to about $75,900 the year before.

Despite the larger mining rewards, the company's own Bitcoin stash actually shrank over the period. Mining yes, HODLing, apparently not so much.

Hive reported holding 150 BTC—about $10 million worth—as of fiscal year-end, down from 481 BTC on December 31.

But the ambitions stretch well beyond Bitcoin.

Hive's high-performance computing arm, BUZZ HPC, generated $19.5 million in revenue, up 94% year-over-year, which executives are pitching as the company's real growth engine.

In May, Hive unveiled plans for a 320-megawatt AI data center in the Greater Toronto Area, designed to house more than 100,000 Nvidia GPUs at full buildout—a project the company is billing as Canada's largest planned AI infrastructure facility under private ownership.

The company is targeting $660 million in annualized recurring revenue from its computing business by the end of 2028.

The year wasn't without complications, though.

HIVE reported a GAAP net loss of $148.4 million for the year, though management noted that roughly $221 million of those losses were non-cash items, including depreciation charges.

Operations span Canada, Sweden, and Paraguay—all powered by green energy—with a combined installed hash rate of 25.1 exahashes per second.

HIVE shares are down about 2.6% on the day, recently trading at $4.63 per Yahoo Finance data, after touching a year-to-date high of $4.97 earlier in the session.