Hive Digital nearly triples revenue, plans 320 MW AI hub

Hive Digital Technologies reported total revenue of $297.8 million for the fiscal year ended March 31, 2026, a 158% increase from the prior year driven by expanded Bitcoin mining and higher average Bitcoin prices.

The company mined 2,885 Bitcoin in the year, up from 1,414 in fiscal 2025. Hive benefited from an average Bitcoin price of roughly $98,000 versus about $75,900 the prior year. Despite increased production and higher prices, reported Bitcoin holdings fell to 150 BTC at year end from 481 BTC as of Dec. 31.

On a GAAP basis Hive recorded a net loss of $148.4 million for the year. The company reported that about $221 million of the loss consisted of non-cash items, including depreciation charges.

Installed mining capacity rose to 25.1 exahashes per second after roughly a fourfold increase over the past year. Hive operates facilities in Canada, Sweden and Paraguay and says those sites are powered by renewable energy sources.

Hive’s high-performance computing division, BUZZ HPC, generated $19.5 million in revenue for the year, a 94% increase from the prior year. In May the company outlined plans for a 320-megawatt data center in the Greater Toronto Area designed to host more than 100,000 Nvidia GPUs at full buildout. The company describes the facility as the largest planned privately owned AI infrastructure project in Canada and has set a target of $660 million in annualized recurring revenue from its computing business by the end of 2028.

Hive shares were trading about 2.6% lower on the day the results were released, near $4.63 after touching $4.97 earlier in the session.

Executives have presented BUZZ HPC as the engine for future growth as the company expands its computing operations alongside its Bitcoin mining business.