HIVE Digital reports 158% revenue growth

HIVE Digital Technologies said on June 2 that fiscal 2026 revenue rose 158% to $297.8 million, as the crypto miner expanded its Bitcoin fleet and added more high-performance computing capacity. The company said digital currency mining revenue reached $278.3 million and BUZZ HPC revenue rose 94% to $19.5 million for the year ended March 31, 2026. (sec.gov) The filing shows two businesses moving at once. Bitcoin production rose 104% to 2,885 coins, while installed hashrate reached 25.1 exahash per second by March 31, 2026. (sec.gov) At the same time, HIVE said its HPC business was supported by an Nvidia H200 GPU cluster and marketplace demand for AI compute. ### Where did the 158% growth come from? HIVE said the biggest driver was mining scale. Digital currency revenue rose 164% year over year, which the company attributed to an approximately four-fold increase in installed operational hashrate and a higher average Bitcoin price of $98,040 in fiscal 2026 versus $75,881 a year earlier. (sec.gov) March 31, 2026, is the balance-sheet date that ties those gains together. HIVE said its total installed hashrate was 25.1 EH/s, or about 24.5 EH/s after controlled downclocking for fleet optimization, and that its 300 megawatt Paraguay expansion helped lift gross operating margins to 36% from 22% a year earlier. (sec.gov) ### How much of the business is now tied to AI and HPC? BUZZ HPC generated $19.5 million in fiscal 2026 revenue, up from $10.0 million in fiscal 2025, according to HIVE’s release. The company said that increase was driven by deployment of its Nvidia H200 GPU cluster and strong demand on a GPU marketplace. (sec.gov) A separate filing detail points to the next step in that build-out. HIVE said fourth-quarter HPC revenue was $4.6 million and that deployment of a 504 Nvidia B200 GPU cluster at Bell Canada’s AI Fabric facility shifted from March to May 2026, leaving that capacity outside most of the quarter being reported. (sec.gov) ### If revenue surged, why was the year still a net loss? HIVE reported a GAAP net loss of $148.4 million for fiscal 2026. The company said about $221.3 million of that was non-cash, including $170.4 million of depreciation and $50.9 million of other non-cash adjustments such as share-based compensation, derivative revaluations and unrealized investment losses. (sec.gov) Adjusted EBITDA tells a different part of the same year. HIVE said adjusted EBITDA was $72.9 million, equal to 24% of total revenue, even as general and administrative expense rose to $31.4 million from $16.6 million as staffing increased for Paraguay mining expansion and BUZZ HPC growth. (sec.gov) ### What does the fourth quarter show about the business right now? Fourth-quarter figures were more mixed than the full-year totals. HIVE said Q4 revenue was $71.8 million, and the filing excerpt says fourth-quarter HPC revenue of $4.6 million was slightly below the prior quarter because the B200 cluster deployment moved to May 2026. (sec.gov) Bitcoin holdings were lower by year-end. HIVE said it held $10.8 million in digital currency on March 31, 2026, including 150 Bitcoin. (sec.gov) ### What comes next in HIVE’s filings? June 2, 2026, is the date on HIVE’s fiscal-year results release, and March 31, 2026, is the period end covered by the report. The next operating proof point is the contribution from the 504 Nvidia B200 GPU cluster that HIVE said shifted into service in May 2026 at Bell Canada’s AI Fabric facility. (sec.gov) (hivedigitaltechnologies.com)