HIVE Digital Technologies Achieves 158% Revenue Growth in Fiscal 2026
HIVE Digital posts record 158% revenue jump in fiscal 2026
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HIVE Digital Technologies reported a remarkable 158% revenue increase in fiscal 2026, reaching $297.8 million. This growth stemmed from its Bitcoin mining and AI infrastructure businesses, with Bitcoin mining revenue alone hitting $278.3 million. The company plans to further expand its operations, including a $3.5 billion AI Gigafactory in Canada.
- 01HIVE mined 2,885 Bitcoin in fiscal 2026, a 164% increase from the previous year.
- 02The company's total Bitcoin mining hashrate surged from 6.5 exahashes per second to 25.1 exahashes per second.
- 03HIVE's AI and high-performance computing (HPC) division generated $19.5 million in revenue, a 94% increase year-over-year.
- 04The planned AI Gigafactory in the Greater Toronto Area will be the largest privately owned AI infrastructure in Canada, with operations expected to start in the second half of 2027.
- 05HIVE aims for $660 million in annual recurring revenue by the end of 2028, driven by the new Gigafactory and GPU cloud business expansion.
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HIVE Digital Technologies reported a 158% increase in revenue for fiscal 2026, totaling $297.8 million. The significant growth was fueled primarily by its Bitcoin mining operations, which generated $278.3 million in revenue, up 164% from the previous year, as the company mined 2,885 Bitcoin compared to 1,414 in fiscal 2025. HIVE also expanded its mining capacity, increasing its total hashrate from 6.5 exahashes per second to 25.1 exahashes per second. Additionally, the company's AI and high-performance computing (HPC) segment, operating under the BUZZ brand, reported $19.5 million in revenue, a 94% rise from last year. A key highlight was the announcement of a 320-megawatt AI Gigafactory in the Greater Toronto Area, projected to be the largest privately owned AI infrastructure in Canada, with total investments expected to reach CAD $3.5 billion. HIVE plans to achieve $660 million in annual recurring revenue by the end of 2028, with the Gigafactory as a central growth driver.
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HIVE's expansion plans, particularly the AI Gigafactory, are set to significantly impact the local economy in the Greater Toronto Area through job creation and infrastructure development.
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