HIVE Digital Reports $297.8M Revenue (+158%) and Sees Price Target Lift
HIVE•HIVE Digital reported FY2026 revenue of $297.8 million, up 158% YoY on 2,885 Bitcoin mined (up 104%) and $19.5 million in HPC hosting revenue (up 94%). Cantor Fitzgerald raised its price target to $4.60, fueling a 5.31% stock gain ahead of the earnings call on AI and HPC expansion.
1. FY2026 Financial Highlights
HIVE Digital achieved total revenue of $297.8 million for the year ended March 31, 2026, reflecting a 158% increase. Digital currency mining contributed $278.3 million, up 164% YoY on a four-fold hashrate expansion, while BUZZ HPC hosting delivered $19.5 million, up 94%.
2. Profitability and Margins
Gross operating margin expanded to $107.9 million (36%), up from $25.1 million (22%) in FY2025, driven by operating leverage from the 300 MW Paraguay expansion and HPC margin growth to approximately 40%. Adjusted EBITDA reached $72.9 million (24% of revenue) despite a GAAP net loss of $148.4 million, largely non-cash.
3. Analyst Upgrade and Market Reaction
Cantor Fitzgerald raised its price target from $3.00 to $4.60, citing the company’s renewable-powered mining operations and AI/HPC expansion. The stock jumped 5.31% on June 1 ahead of the earnings call, reflecting investor enthusiasm for its dual growth strategy.
