Record revenue as Bitcoin output doubles @HIVEDigitalTech is pushing well beyond its Bitcoin mining roots. The Vancouver-based miner and data centre operator posted fiscal year 2026 revenue o
@HIVEDigitalTech is pushing well beyond its Bitcoin mining roots. The Vancouver-based miner and data centre operator posted fiscal year 2026 revenue of $297.8 million, a 158% jump on the prior year, driven by a 164% rise in digital currency revenue to $278.3 million and a record $19.5 million from its BUZZ high-performance computing unit, up 94% year-over-year.
Bitcoin production more than doubled to 2,885 coins mined during the fiscal year, as HIVE expanded its installed hashrate to 25.1 exahashes per second, materially outpacing a 42% rise in average network difficulty.The company's gross operating margin expanded 14 percentage points to 36%, generating $107.9 million compared with $25.1 million a year earlier.
HIVE's BUZZ HPC unit grew contracted annualised recurring revenue to $35 million at fiscal year-end following the live deployment of its first 504 NVIDIA B200 GPU cluster at Bell Canada's AI Fabric facility in Manitoba, generating revenue at $2.90 per GPU-hour, 32% above the initial planning rate.
The company's most significant growth catalyst is the 320 MW AI gigafactory it announced in the Greater Toronto Area in May 2026. The industrial-scale facility, designed to host more than 100,000 GPUs, is targeted to come online in the second half of 2027 and is expected to generate approximately $360 million in annualised recurring revenue at full operation.
HIVE purchased a 25-acre site in the Toronto-Waterloo innovation corridor for CAD $58 million, with total investment in the project expected to reach CAD $3.5 billion.The company describes this as the largest planned Canadian AI infrastructure project under private ownership.
HIVE also plans to roughly double its GPU fleet to approximately 11,000 NVIDIA GPUs under management by the end of calendar 2026, a scale the company says is expected to generate over $200 million in AI Cloud annual recurring revenue. The overall target is $660 million in recurring revenue by the end of 2028.
In April 2026, HIVE raised $115 million through 0% Exchangeable Senior Notes due 2031 to support future expansion.
Sources:HIVE Digital Technologies FY2026 Results, SEC Filing (Form 8-K)HIVE Digital posts record 158% revenue jump in fiscal 2026, TheStreetHIVE Digital Technologies maps path to $660M ARR, Proactive Investors
