Key Takeaways:
HIVE Digital Technologies posted record annual revenue of $297.8M for fiscal 2026, while its Bitcoin holdings dropped to 150 BTC as the company shifted focus toward AI computing.
"Our record revenue reflects the successful execution of our strategy to diversify beyond pure Bitcoin mining into high-performance AI compute," HIVE Executive Chairman Frank Holmes said.
The company reported a fiscal fourth-quarter loss of $76.3M, or 30 cents a share, missing the consensus estimate of a 21-cent loss from three analysts surveyed by Zacks. Revenue of $71.8M in the quarter also fell short of the $76.8M forecast. For the full year, HIVE posted a net loss of $148.4M, or 66 cents a share.
The results cap a volatile period for HIVE, whose shares more than doubled in May to near $4.90 even as Bitcoin slid 15.6% year to date. The market has been rerating the stock on the promise of its BUZZ HPC subsidiary, which announced a 320 MW sovereign AI infrastructure buildout in the Greater Toronto Area.
AI computing revenue reached $19.5M, nearly double the prior year, as HIVE deployed GPU capacity for enterprise and sovereign AI workloads. The company's Bitcoin holdings fell by 331 BTC during the fiscal first quarter to 150 BTC, reflecting both sales to fund operations and the strategic pivot toward compute services.
HIVE's hash rate target of 25 exahash remains unchanged, though management has not disclosed a specific timeline. The company's fleet efficiency and cash cost per coin will be key metrics for investors assessing post-halving profitability.
The BUZZ HPC buildout represents the company's most significant growth catalyst. At 320 MW, the Toronto-area facility positions HIVE to compete in the Tier 3 colocation and GPU-as-a-Service market, though analysts are watching for concrete customer commitments and energization timelines.
The record revenue signals that HIVE's diversification strategy is gaining traction, but the path to sustained profitability depends on scaling AI compute margins faster than Bitcoin mining margins compress. Investors will watch the earnings call on June 2 for updated guidance on BUZZ HPC revenue contribution and hash rate targets.
This article is for informational purposes only and does not constitute investment advice.
