Hive Digital Technologies reported a substantial revenue increase for its fiscal year ending March 31, propelled by the surge in Bitcoin prices last year and the rapid expansion of its computing business. The Canadian miner is actively seeking to establish itself as a significant player in artificial intelligence infrastructure.
For fiscal year 2026, the company announced total revenue of $297.8 million, marking a 158 percent jump from the previous year. This growth was primarily attributed to a significant scaling up of its Bitcoin mining operations.
During the fiscal year, Hive mined 2,885 Bitcoin, more than doubling the 1,414 mined in fiscal 2025. This achievement was bolstered by an average Bitcoin price of approximately $98,000, a notable increase from the roughly $75,900 average seen the year prior.
Despite the higher mining rewards realized last year, the company’s Bitcoin holdings actually decreased over the period. Hive reported holding 150 BTC, valued at around $10 million, at the close of the fiscal year. This represents a decline from its holdings of 481 BTC as of December 31.
However, Hive’s strategic vision extends far beyond cryptocurrency. Its high-performance computing division, operating under the brand BUZZ HPC, generated $19.5 million in revenue, a 94 percent year-over-year increase. Company executives are positioning this division as the primary driver of future growth.
In May, Hive unveiled plans for a 320-megawatt AI data center in the Greater Toronto Area. Upon full completion, this facility is slated to accommodate over 100,000 Nvidia GPUs, making it what the company describes as Canada’s largest planned AI infrastructure facility under private ownership. Hive has set an ambitious target of achieving $660 million in annualized recurring revenue from its computing business by the end of 2028.
The company’s financial results were not without challenges. Hive reported a GAAP net loss of $148.4 million for the fiscal year. However, the company clarified that approximately $221 million of these losses were non-cash items, including depreciation charges.
Hive maintains operations in Canada, Sweden, and Paraguay, all powered by renewable energy sources. The company’s total installed hash rate stands at 25.1 exahashes per second.
Hive (HIVE) shares experienced a slight decline of about 2.6 percent on the day, trading recently at $4.63 according to Yahoo Finance data. Earlier in the session, the stock had reached its highest point for the year at $4.97.
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