HIVE Digital Technologies Posts $93.1M Q3 Revenue, 34.5% Margin Expansion
Record Q3 revenue reached $93.1 million, up 219% year-over-year, with gross operating margin expanding to $32.1 million (34.5%) and Adjusted EBITDA of $5.7 million. Installed Bitcoin hashrate scaled to 25 EH/s and HIVE Digital Technologies secured a $30 million Nvidia GPU contract expected to boost HPC ARR by $15 million.
1. Q3 Financial Highlights
HIVE Digital Technologies delivered record Q3 revenue of $93.1 million, a 219% increase versus prior year, and generated $5.7 million in Adjusted EBITDA. Gross operating margin rose to $32.1 million (34.5%), while GAAP net loss of $91.3 million reflected accelerated depreciation on next-gen ASICs.
2. Infrastructure and Hashrate Expansion
Installed Bitcoin hashrate capacity grew to 25 EH/s with an average operational hashrate of 22.9 EH/s, supported by 440 MW of hydro-powered data centers. The company signed an additional 100 MW PPA in Yguazú, purchased 10 hectares of land, and post-quarter added 63 hectares to its Paraguay expansion.
3. AI and HPC Growth Outlook
In February 2026, HIVE secured a 2-year, $30 million contract for 504 Nvidia B200 GPUs, adding approximately $15 million to annual HPC ARR. Targeting $140 million in GPU cloud ARR by Q4 2026 and $225 million total HPC ARR by early 2027, HIVE plans a 540 MW energy footprint for diversified compute services.