HIVE Digital’s Revenue Jumps 158% to $297.8M While Q4 EBITDA Hits -$9M
HIVE•HIVE Digital’s fiscal year revenue climbed 158% to $297.8 million as AI data-centre and high-performance computing services contributed a record $19.5 million. The company still reported a $148.4 million net loss and Q4 adjusted EBITDA of negative $9.0 million on $71.8 million revenue.
1. Fiscal Year Revenue Growth and AI Pivot
HIVE Digital reported total revenue of $297.8 million for the fiscal year ended March 31, up 158% year-over-year. Digital currency operations generated $278.3 million of that total, driven by a four-fold increase in operational hashrate, while its high-performance computing hosting business set a record with $19.5 million in revenue, up 94%.
2. Profitability Metrics and Q4 Performance
The company posted a net loss of $148.4 million for the full year, primarily due to unrealized investment losses. In the fourth quarter, revenue reached $71.8 million but adjusted EBITDA swung to a negative $9.0 million, reflecting a 27% sequential drop in Bitcoin prices and heightened network difficulty.
3. AI Gigafactory and HPC ARR Targets
HIVE has secured a 320-megawatt AI Gigafactory in the Greater Toronto Area designed to scale its high-performance computing ARR from $35 million today to a projected $660 million by 2028. This facility represents the core of its transition from cryptocurrency mining to AI infrastructure services.
4. Balance Sheet and Bitcoin Holdings
The company reduced its Bitcoin holdings by 331 BTC over the most recent quarter, leaving 150 BTC valued at $10.8 million on the balance sheet. Following a $115 million convertible note offering, HIVE’s shares have climbed 167% year-to-date, reflecting investor appetite for its AI pivot.
