HIVE Digital Technologies said its 2026 fiscal-year revenue reached $298 million, up 158% from a year earlier, as the company expanded both its Bitcoin mining and AI computing operations. Executive Chairman Frank Holmes said HIVE’s 504 Nvidia B200 GPUs, deployed in Bell Canada’s Manitoba AI fabric, generate about $2.90 per GPU per hour. By comparison, the company’s Bitcoin mining machines bring in about $0.12 per hour, putting GPU revenue at roughly 24 times the level of mining equipment on that measure.
The company said revenue from digital currency mining increased 164% during the same fiscal year. Its average mining hashrate climbed to 22.2 EH/s, up 290% year over year, equal to about 3% of the Bitcoin network hashrate, and HIVE mined 2,885 BTC. BUZZ HPC, the unit handling AI and high-performance computing workloads, posted $19.5 million in revenue, up 94% from $10 million in the previous fiscal year.
HIVE also disclosed an approximately $220 million GPU cloud agreement with Bell and AI company Cohere, alongside $75 million raised through a note issuance to expand AI infrastructure. The company is building a 320-megawatt AI data center in the Greater Toronto Area that is planned to eventually hold more than 100,000 GPUs. HIVE said the facility could generate about $360 million in annualized recurring revenue if it is fully online in the second half of 2027.
HIVE Digital Technologies said fiscal 2026 revenue reached $298 million, up 158% year over year, while Executive Chairman Frank Holmes highlighted a wide gap between the company’s AI computing economics and its Bitcoin mining returns.
According to Holmes, HIVE’s cluster of 504 Nvidia B200 GPUs in Bell Canada’s Manitoba AI fabric generates about $2.90 per GPU per hour. HIVE’s Bitcoin mining equipment, by contrast, generates about $0.12 per hour.
Mining revenue and hashrate both increased
HIVE said revenue from digital currency mining rose 164% in the same fiscal year. Its average hashrate was 22.2 EH/s, up 290% from a year earlier, representing about 3% of the total Bitcoin network hashrate.
The company said it mined 2,885 BTC during the period.
BUZZ HPC revenue rose to $19.5 million
BUZZ HPC, HIVE’s division for AI and high-performance computing, reported $19.5 million in revenue, compared with $10 million in the prior fiscal year, an increase of 94%.
HIVE also said it signed an approximately $220 million GPU cloud agreement with Bell and AI company Cohere. Separately, it raised $75 million through a note issuance to fund AI infrastructure expansion.
320-megawatt AI data center planned in Greater Toronto Area
The company is building a 320-megawatt AI data center in the Greater Toronto Area, with plans for the site to eventually house more than 100,000 GPUs.
HIVE said that if the facility is fully online in the second half of 2027, it could generate about $360 million in annualized recurring revenue.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
