Hive Digital Technologies reported revenue of $297.8 million for the fiscal year ending March 31, 2026, a 158% year-over-year increase. The growth was primarily driven by rising Bitcoin prices and a significant expansion in mining capacity compared to the previous year. The company is also simultaneously advancing its AI computing business, hoping to cultivate high-performance computing as a new source of growth.
Revenue and production both increased in the fiscal year.
The financial report shows that Hive mined 2,885 bitcoins this fiscal year, up from 1,414 in the previous fiscal year. The company stated that the average bitcoin price for the year was approximately $98,000, compared to approximately $75,900 in the same period last year, which amplified the revenue growth.
- Fiscal year revenue: US$297.8 million
- Year-on-year increase: 158%
- Bitcoin production for the fiscal year: 2885 coins
According to disclosed data, Hive currently has a total installed computing power of 25.1 EH/s, with operations located in Canada, Sweden, and Paraguay. The company stated that these facilities are primarily powered by green energy.
Bitcoin holdings have declined since earlier this year.
Despite increased mining revenue, Hive's Bitcoin holdings have decreased. The company disclosed that it held 150 Bitcoins at the end of the fiscal year, worth approximately $10 million at the time; while as of December 31, 2025, this number would be 481 Bitcoins.
The financial report also showed that Hive recorded a net loss of $148.4 million under U.S. Generally Accepted Accounting Principles (GAAP). The company stated that approximately $221 million of this was non-cash items, primarily including depreciation expenses.
AI computing business continues to expand
Hive's high-performance computing business, BUZZ HPC, reported annual revenue of $19.5 million, a 94% year-over-year increase. Management is positioning this business as a key growth driver for the coming years.
In May of this year, Hive announced plans to build a 320-megawatt AI data center in the Greater Toronto Area. According to the company's plan, the project, once fully completed, will be able to accommodate more than 100,000 Nvidia GPUs. Hive projects that its computing business will generate $660 million in annual recurring revenue by the end of 2028.
Additional information:The company is still primarily a Bitcoin mining enterprise, and its AI computing revenue is significantly lower than that of its mining business. However, its capital expenditures and expansion focus have begun to shift towards data centers.
