HIVE Digital Technologies maps path to $660M ARR after fiscal 2026 revenue surges

Proactive

Tue, June 2, 2026 astatine 7:46 AM CDT 3 min read

HIVE Digital Technologies Ltd (TSX:HIVE, NASDAQ:HIVE, FRA:YO0, BVC:HIVECO) reported a 158% leap successful gross from the twelvemonth anterior arsenic the institution pushes toward an ambitious $660 cardinal yearly recurring gross people anchored by a large Canadian AI infrastructure buildout.

The Vancouver-based Bitcoin miner and information centre relation posted fiscal twelvemonth 2026 gross of $297.8 million, driven by a 164% leap successful integer currency gross to $278.3 cardinal and a grounds $19.5 cardinal from its BUZZ high-performance computing business, up 94% year-over-year.

Bitcoin accumulation much than doubled to 2,885 coins mined during the fiscal year, arsenic HIVE expanded its installed hashrate to 25.1 exahashes per second, materially outpacing a 42% emergence successful mean web difficulty.

The company's gross operating borderline expanded 14 percent points to 36%, generating $107.9 cardinal compared with $25.1 cardinal a twelvemonth earlier.

Adjusted EBITDA reached $72.9 cardinal for the afloat year, portion currency from operations roseate to $62.3 million.

The 4th fourth was softer, with gross of $71.8 cardinal and an adjusted EBITDA nonaccomplishment of $9 million, arsenic Bitcoin prices fell astir 27% from their October all-time precocious done quarter-end and mean web trouble climbed to a grounds 140.7 terahashes.

Bitcoin mining gross declined 23.9% sequentially to $67.2 million, though accumulation held broadly dependable astatine 876 coins arsenic grounds operational hashrate from the completion of Paraguay Phase 3 offset the trouble headwinds. HPC gross of $4.6 cardinal was marginally beneath the anterior 4th aft the deployment of HIVE's 504 NVIDIA B200 GPU clump shifted from March to May, but roseate 54% from the aforesaid play a twelvemonth earlier.

The results travel arsenic HIVE pivots aggressively toward AI infrastructure. The company's BUZZ HPC portion grew contracted ARR to $35 cardinal astatine fiscal year-end pursuing the unrecorded deployment of its archetypal 504 NVIDIA B200 GPU clump astatine Bell Canada's AI Fabric installation successful Manitoba, which is generating gross astatine $2.90 per GPU-hour, 32% supra the archetypal readying rate.

The company's astir important maturation catalyst is the 320 MW AI Gigafactory it announced successful the Greater Toronto Area successful May 2026. The industrial-scale facility, designed to big much than 100,000 GPUs, is targeted to travel online successful the 2nd fractional of 2027 and is expected to make astir $360 cardinal successful annualized recurring gross astatine afloat operation. HIVE acquired a 25-acre tract successful the Toronto-Waterloo corridor for C$58 cardinal and has outlined astir C$3.5 cardinal successful superior concern for the project.