HIVE Digital Technologies Sees 158% Revenue Surge to $297.8M with 36% Margin
HIVE•HIVE Digital Technologies posted FY2026 revenue of $297.8 million, up 158% year-over-year, driven by $278.3 million in mining and $19.5 million in HPC services while gross margin widened to 36% and adjusted EBITDA reached $72.9 million. Installed hashrate climbed to 25.1 EH/s, Bitcoin production rose 104%, and HPC revenue gained 94%.
1. FY2026 Financial Highlights
HIVE Digital Technologies delivered $297.8 million in full-year revenue, composed of $278.3 million from digital currency mining and $19.5 million from HPC hosting services. Gross operating margin expanded to 36%, GAAP net loss included $221.3 million of non-cash charges, and adjusted EBITDA reached $72.9 million or 24% of revenue.
2. Q4 FY2026 Performance
In Q4, revenue totaled $71.8 million, with Bitcoin mining revenue of $67.2 million and HPC revenue of $4.6 million. Gross operating margin was 24%, GAAP net loss was $83.3 million including $74.7 million of non-cash costs, and adjusted EBITDA was negative $9.0 million due to hashprice compression and FX translation losses.
3. Operational and Capacity Expansion
Operational hashrate grew from 6.5 EH/s to 25.1 EH/s by March 31, 2026, driven by the completion of the 300 MW Paraguay expansion. Bitcoin production rose 104% to 2,885 coins, and the BUZZ HPC business deployed NVIDIA H200 GPU clusters, nearly doubling GPU marketplace revenue.
4. Outlook and Growth Strategy
Management targets $660 million of annual recurring revenue by year-end 2028, anchored by the planned 320 MW AI Gigafactory in the Greater Toronto Area. The dual-engine strategy — combining green-energy mining and AI infrastructure — aims for disciplined, high-ROIC growth powered by 100% renewable energy.
