Hive Digital Technologies has reported a nearly threefold increase in revenue for its fiscal year ending March 31, 2026, reaching an impressive $297.8 million. This surge can be attributed to a significant rise in Bitcoin prices and a substantial expansion of the company’s mining capacity.
In total, Hive mined 2,885 Bitcoin during the fiscal year, a sharp increase compared to the 1,414 Bitcoin mined in the previous year. The average Bitcoin price soared to approximately $98,000, up from around $75,900 in fiscal 2025, contributing greatly to this revenue boost. However, despite the increased mining activities and higher Bitcoin prices, Hive’s Bitcoin holdings decreased, falling to 150 BTC—or about $10 million—by the end of the fiscal year, down from 481 BTC at the end of December 2025.
Beyond cryptocurrency, Hive is making significant strides in the artificial intelligence sector. The company’s high-performance computing division, BUZZ HPC, reported revenues of $19.5 million, marking a substantial 94% growth year-over-year. Hive executives have emphasized their vision of transforming the firm into a key player within AI infrastructure.
To further these ambitions, Hive recently announced plans for a massive 320-megawatt AI data center in the Greater Toronto Area. This facility is expected to house over 100,000 Nvidia GPUs and aims to become Canada’s largest privately owned AI infrastructure project. The company has set an ambitious target to achieve $660 million in annualized recurring revenue from its computing operations by the end of 2028.
Despite the positive revenue growth, Hive is also grappling with financial challenges. The company reported a GAAP net loss of $148.4 million for the year, with approximately $221 million of this loss being non-cash items, including depreciation costs.
Hive operates in multiple countries, including Canada, Sweden, and Paraguay, with all facilities powered by green energy. The company has achieved a total installed hash rate of 25.1 exahashes per second.
Current market conditions reflect a slight decline in Hive’s share price, which recently traded at $4.63, down about 2.6% for the day, although it reached a peak of $4.97 earlier in the session, indicating fluctuating investor sentiment.
