HIVE Digital Technologies Statistics 2026: Hashrate and Revenue

HIVE Digital Technologies mined 2,885 Bitcoin during the fiscal year ended March 31, 2026, up 104% from 1,414 Bitcoin a year earlier, and closed that year holding 150 Bitcoin. The gap between what the company produces and what it keeps is the single most useful thing to understand about this miner.

Revenue for the same year reached $297.8 million, split between $278.3 million of digital currency mining and $19.5 million of high-performance computing hosting. In the most recent reported quarter, fiscal Q1 2027 ended June 30, 2026, HIVE booked revenue of $79.1 million, up 73.5% year over year. The data below covers monthly production, hashrate, fleet efficiency, segment revenue, contracted AI capacity, power footprint, and balance sheet.

Key Takeaways

• BUZZ HPC generated a record $19.5 million in fiscal 2026, up 94% from $10.0 million the prior year.
• Gross operating margin widened to $107.9 million, a 36% margin, from $25.1 million at a 22% margin in fiscal 2025.
• Average Bitcoin network difficulty rose approximately 42%, from 95.7 trillion in fiscal 2025 to 135.8 trillion in fiscal 2026.
• HIVE held $10.8 million in total digital currency holdings on March 31, 2026, including 150 Bitcoin.
• Average operational hashrate expanded to 24.0 EH/s in fiscal Q1 2027, compared with 8.7 EH/s in fiscal Q1 2026.
• Approximately $35 million of BUZZ HPC’s approximately $180 million total annualized revenue is active, realized revenue today.
• Fleet efficiency stood at approximately 16.5 J/TH on March 31, 2026, and HIVE reported sustaining a global Bitcoin network share above 2% through January 2026.

Editor’s Choice

• Fiscal 2026 total revenue: $297.8 million.
• Bitcoin mined in fiscal 2026: 2,885.
• Installed hashrate on March 31, 2026: 25.1 EH/s, up from 6.5 EH/s on March 31, 2025.
• Fiscal Q1 2027 revenue: $79.1 million.
• Bitcoin received as rewards in fiscal Q1 2027: 1,004.
• Operational global power capacity: 440 MW across Canada, Sweden, and Paraguay.
• Fiscal Q1 2027 GAAP net loss: $142.9 million.

HIVE Digital Technologies Revenue by Fiscal Year

• Digital currency mining supplied $278.3 million, up 164% year over year, on a fiscal year running April through March.
• The mining line grew on an approximately fourfold increase in installed operational hashrate and higher average Bitcoin prices.
• Adjusted EBITDA, a non-GAAP measure, came in at $72.9 million, or 24% of total revenue.
• The reported GAAP net loss was $148.4 million, of which approximately $221.3 million is non-cash, comprising $170.4 million of depreciation and $50.9 million of net non-cash adjustments.
• The margin move was a 14 percentage-point expansion reflecting operating leverage on the 300 MW Paraguay expansion.
• HPC gross margin ran at approximately 40% for the year, ahead of the blended company figure.
• Full detail sits in the company’s annual results, furnished to the SEC on Form 8-K on June 2, 2026.

Source: HIVE Digital Technologies fiscal 2026 results, SEC Form 8-K exhibit, June 2026

Is HIVE a Bitcoin miner?

HIVE is a Bitcoin miner that also sells GPU compute. Mining supplied $278.3 million of the $297.8 million booked in fiscal 2026, so about 93% of it still came from hashrate services. The high-performance computing arm, BUZZ HPC, is the smaller and faster-growing half.

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Bitcoin Production by Month

• HIVE reported August 2025 output of 247 BTC, the base month for the Paraguay ramp that followed.
• HIVE reported September 2025 production climbing to 267 BTC, up 8% month over month and up 138% year over year from 112 BTC in September 2024.
• HIVE reported October 2025 reaching 289 BTC, up 8% month over month and up 147% year over year from 117 BTC.
• HIVE reported November 2025 delivering 290 BTC, up 182% year over year from 103 BTC in November 2024.
• HIVE reported December 2025 as the strongest month in the series at 306 BTC, a 197% increase year over year.
• HIVE reported that January 2026 output of 297 BTC was up 191% year over year from 102 BTC in January 2025.
• HIVE reported daily output moving from 9 BTC per day in September 2025 to 9.9 BTC per day in December 2025.
• Across calendar 2025, HIVE reported producing 2,311 Bitcoin, a 31% increase year over year from 1,770 Bitcoin in 2024.

Worth noting: No monthly production report after the January 2026 figures was available at the time of writing; later months appear only in quarterly disclosures, so the monthly series above ends there rather than running to the present. Quarterly totals continue.

Recent Developments

• August 17, 2026: BUZZ HPC signed a five-year GPU cloud services agreement worth approximately $350 million in total contract value, adding approximately $70 million in annualized revenue.
• August 2026: HIVE reported fiscal Q1 2027 results with adjusted EBITDA of $13.4 million, or 17.0% of revenue.
• June 18, 2026: BUZZ HPC closed a three-year sovereign AI GPU cloud contract with a total contract value of approximately $220 million covering 2,304 NVIDIA Grace Blackwell GPUs for Bell AI Fabric and Cohere.
• June 25, 2026: HIVE signed a non-binding letter of intent for an up to 10-year lease of the Company’s 32-megawatt Boden, Sweden facility.
• June 30, 2026: The company closed a further note offering, taking the quarter’s total to $245 million raised from the sale of 0% coupon notes.
• May 18, 2026: BUZZ HPC announced a 320 MW industrial-scale AI gigafactory in the Greater Toronto Area, designed to host more than 100,000 GPUs at full build-out.

Bitcoin Mined Versus Bitcoin Held

• Liquidity at the most recent quarter-end was $208.0 million of cash and cash equivalents and $11.2 million of digital currencies.
• HIVE reported realizing approximately $7.4 million in value through the cashless exercises of 480 BTC tied to its 2025 Bitcoin pledge, at an average value of approximately $102,000, including exercises done at $110,000 per Bitcoin.
• Quarterly output has kept climbing: 876 Bitcoin were mined in Q4 2026, then 1,004 Bitcoin were received as rewards in the following quarter.
• February and March 2026 together accounted for 579 Bitcoin of that quarterly total, since January alone contributed the balance.
• Year-end holdings equalled about 5.2% of the Bitcoin produced during fiscal 2026.
• Reading a monthly production figure as a proxy for treasury growth is the most common error in coverage of this company. Peer comparisons against CleanSpark or MARA turn on the same distinction, because output and balance sheet are separate decisions.

Source: HIVE Digital Technologies fiscal 2026 results and fiscal Q1 2027 results, June and August 2026

How many bitcoins does HIVE own?

HIVE reported 150 Bitcoin within $10.8 million of total digital currency holdings on March 31, 2026. That is a fraction of the year’s output, because the company sells production to fund construction rather than accumulating a treasury. Three months later, the digital-currency balance stood at $11.2 million.

BTC per EH/s

• Yield per exahash slipped even as the fleet grew, which is what rising difficulty does to a miner’s output per unit of hashrate.
• HIVE reported September 2025 hashrate rising 19% month over month, from 16.3 EH/s in August to 19.4 EH/s in September, against a 16% increase in Bitcoin network difficulty from 130 trillion to 151 trillion.
• HIVE reported that October production growth of 8% outpaced Bitcoin network difficulty that month.
• HIVE reported December 2025 output rising 197% year over year while Bitcoin mining difficulty increased 40% year over year for the month.
• HIVE reported January 2026 production climbing 191% year over year while Bitcoin mining difficulty increased 30% year over year for the month.
• Hashrate itself grew far faster than output: HIVE reported average hashrate was up 290% year over year, from 5.7 EH/s in January 2025.
• Buyers renting hashrate through cloud contracts face the same arithmetic, since difficulty applies to every participant equally.

By the numbers: HIVE’s own yield metric fell from 13.8 Bitcoin per EH/s in September 2025 to 12.3 in November 2025, its low point in the published series, even as average hashrate climbed from 19.4 EH/s to 23.5 EH/s over the same stretch. Fleet growth and per-unit yield move in opposite directions once network difficulty rises faster than capacity.

Average and Peak Hashrate by Month

• HIVE reported peak hashrate running ahead of the monthly average throughout the ramp, reaching 25.4 EH/s in November 2025 against a 23.5 EH/s average.
• HIVE reported October 2025 peaking at 23.6 EH/s on a 21.9 EH/s average.
• HIVE reported December 2025 peaking at 24 EH/s on a 23.3 EH/s average.
• HIVE reported January 2026 peaking at 23.7 EH/s on a 22.2 EH/s average, with cold-weather curtailment affecting parts of the northern hemisphere fleet.
• Installed capacity and operating capacity are different numbers: total installed hashrate was 25.1 EH/s as of March 31, 2026, or approximately 24.5 EH/s after accounting for controlled downclocking for fleet optimization.
• The most recent quarterly average was lower still, at 24.0 EH/s, which is the figure to use for like-for-like production comparisons.
• Riot Platforms hashrate data is reported on the same installed-versus-operating basis, so the distinction matters across the sector.

Quarterly Revenue Split Between Mining and HPC

• Digital currency revenue in the most recent quarter was $72.1 million, up 76.6% year over year and 7.3% sequentially.
• BUZZ HPC contributed $7.1 million, up 46.7% year over year and 52.1% sequentially, on an NVIDIA B200 GPU cluster deployed at the company’s Manitoba site.
• The prior quarter told a harsher story: Bitcoin mining revenue of $67.2 million fell 23.9% sequentially on an approximately 27% decline in average Bitcoin price.
• That quarter’s HPC line was $4.6 million, up 54% year over year from $3.0 million, held back when a GPU cluster deployment shifted from March to May 2026.
• High-performance computing supplied about 9.0% of quarterly revenue in fiscal Q1 2027, against roughly 6.4% a quarter earlier.
• Gross operating margin, a non-GAAP measure, improved to $24.2 million, or 30.6% of revenue, up from $17.5 million at 24.4% in the prior quarter.

BUZZ HPC Contracted ARR and AI Cloud Contracts

• Contracted annualized recurring revenue is a forward operating metric, not booked revenue, and HIVE labels it as such.
• At fiscal year-end, the figure was HPC ARR of $35 million contracted, with $660 million targeted by year-end 2028.
• By the June quarter, it had reached approximately $110 million, of which approximately $35 million of GPU Cloud ARR is currently live.
• Including the Boden letter of intent, the HPC ARR pipeline totals approximately $155 million, and the longer-term target moved to approximately $700 million of total HPC ARR by year-end 2028.
• The August agreement added approximately $70 million in annualized revenue on approximately $350 million of total contract value over five years, delivered on 2,016 NVIDIA Blackwell Ultra GPUs.
• The Bell AI Fabric contract supporting Cohere carries a total contract value of approximately $220 million across 2,304 NVIDIA Grace Blackwell GPUs.
• HIVE is targeting approximately $200 million of GPU Cloud ARR by the fourth quarter of calendar 2026, subject to market conditions and successful deployment.
• Investors tracking Cipher Mining see the same contracted-versus-realized reporting pattern across the AI data-center cohort.

Worth noting: BUZZ HPC’s announced annualized revenue reached approximately $180 million in August 2026, of which approximately $35 million is active and realized. Fiscal 2026 HPC revenue actually booked was $19.5 million. Contracted run-rate and recognized revenue are different measures, and the gap between them is where most reporting on this company goes wrong.

Fleet Efficiency in Joules per Terahash

• Efficiency improved as newer machines displaced older ones through the Paraguay ramp.
• HIVE reported September 2025 fleet efficiency at 18 joules per Terahash.
• HIVE reported October 2025 improving to 17.7 Joules per Terahash.
• HIVE reported December 2025 holding at 17.5 Joules per Terahash.
• By fiscal year-end, the fleet ran at approximately 16.5 J/TH, the best figure HIVE has disclosed in this series.
• Lower joules per Terahash means less electricity per unit of hashrate, which is the lever that decides whether a given megawatt of mining capacity stays profitable as difficulty rises.

Power Capacity by Region

• Operational capacity across all three countries is 440 MW, all powered by green energy.
• HIVE reports Paraguay accounting for the largest block, at 300 MW brought online during the Phase 3 Valenzuela campus commissioning.
• Canada and Sweden together supply the remaining 140 MW of energized capacity.
• A further 100 MW power purchase agreement at Yguazú is planned for the fourth quarter of calendar 2026, taking the energized footprint to approximately 540 MW.
• The Swedish site is smaller but strategically placed: the Boden facility runs to 32 megawatts, with a usable critical IT load of approximately 25 MW.
• HIVE describes that additional capacity as currently unallocated, leaving the split between hashrate and AI workloads open.

The Swedish VAT Provision and Reported Net Loss

• The most recent quarter carried a non-cash provision of $84.7 million relating to previously disclosed and contested VAT assessments by the Swedish Tax Authority.
• Those assessments primarily relate to the deductibility of input VAT associated with equipment and other expenditures used in the Company’s hashrate services operations, including ASIC mining equipment, for periods beginning in 2023.
• The charge dominates the reported result: a GAAP net loss of $142.9 million was driven primarily by non-cash charges, including the $84.7 million provision, $53.7 million of depreciation expense, $7.1 million of share-based compensation and a $7.1 million change in fair value of derivatives.
• HIVE says it has contested the assessments and continues to pursue the legal remedies available to it, including appeals through the Swedish administrative court system.
• The provision was recognized in accordance with U.S. GAAP following recent adverse Court of Appeal judgments, which is why a disputed liability appears in the accounts at all.
• Over five years, the company estimates it has paid more than $50 million in Sweden in taxes and other government-related charges.
• Separately in Boden, HIVE reports it has paid more than 575 million SEK in taxes to the Swedish Tax Authority and invested more than 960 million SEK in the region.

Source: HIVE Digital Technologies fiscal Q1 2027 results, August 2026

Is HIVE making money?

HIVE reported adjusted EBITDA of $13.4 million, or 17.0% of revenue in fiscal Q1 2027, while posting a GAAP net loss of $142.9 million for the same quarter. The two figures differ because adjusted EBITDA, a non-GAAP measure, excludes the provision, depreciation, and other non-cash items that produced the loss. For the full fiscal 2026 year, the pattern was similar, with adjusted EBITDA of $72.9 million, or 24% of total revenue.

Capital Structure, Notes and Share Issuance

• HIVE closed a private offering of $130 million aggregate principal amount of 0% exchangeable senior notes due 2031 at the end of June 2026.
• Together with an earlier tranche, this took the quarter’s total to $245 million raised from the sale of 0% coupon notes.
• The earlier tranche was $115 million aggregate principal amount of 0% Exchangeable Senior Notes due 2031, closed on April 21, 2026, with net proceeds of approximately $109.5 million.
• Associated capped-call transactions carry an initial cap price of $8.5275, structured to limit dilution on exchange.
• The June notes convert at an initial exchange rate of 206.9429 Common Shares per $1,000 principal amount.
• Equity issuance ran alongside the debt: 9,855,902 common shares were issued for gross proceeds of approximately $31.1 million, at an average price of $3.16 in the quarter to June 30, 2026.
• Digital currency revenue and these financings together fund a build-out that spans two very different businesses.

Source: HIVE Digital Technologies news releases and fiscal Q1 2027 results, April to August 2026

The GTA AI Gigafactory in Numbers

• BUZZ HPC acquired land comprising approximately 21 acres for a purchase price of $46 million, plus an adjacent parcel of approximately 4 acres for $12 million.
• The combined site benefits from a 320 MW power allocation in the Toronto-Waterloo innovation corridor.
• Total land consideration came to CAD $58 million for a contiguous 25-acre site.
• The project is targeted to come online in the second half of 2027, with capital investment of approximately CAD $3.5 billion expected to generate 800+ construction jobs.
• Cooling design follows a closed-loop, no-water-use approach consistent with the Company’s sub-1.3 PUE sustainability standard.
• On the company’s own modelling, signed peer-comparable Tier-III colocation pricing of approximately $150 per kW per month over 15-year terms translates 200 MW of IT load to approximately $360 million of annualized recurring revenue at full operation.
• The land and power announcement was filed with the SEC as a current report on May 18, 2026. Anyone benchmarking the build should read it alongside Core Scientific data center statistics, since the retrofit-versus-greenfield economics differ sharply.

Source: HIVE Digital Technologies SEC Form 8-K exhibits, May and June 2026

HIVE Production Against Bitcoin Network Difficulty

• Difficulty is the denominator every miner shares, and it rose faster than most fleets did.
• Fiscal 2026 production growth materially outpaced the approximately 42% increase in average network difficulty over the same period.
• In the fourth fiscal quarter, the average was 140.7 trillion against 111.2 trillion a year earlier, an approximately 27% year-over-year increase.
• Between August and September 2025, difficulty climbed 16%, from 130 trillion to 151 trillion.
• HIVE reported that calendar 2025 growth came despite the Bitcoin halving and sustained all-time highs in global network difficulty.
• Difficulty applies to the whole Bitcoin network, so a miner that holds output flat through a difficulty increase has effectively lost ground.

Why did HIVE report a $142.9 million loss in its latest quarter?

The loss is almost entirely non-cash. HIVE attributed it to an $84.7 million provision for regulatory liabilities, $53.7 million of depreciation expense, $7.1 million of share-based compensation, and a $7.1 million change in fair value of derivatives, with the provision covering contested Swedish VAT assessments the company is still appealing.

Operating performance moved the other way over the same three months. Revenue rose to $79.1 million, gross operating margin reached $24.2 million at 30.6% of revenue, and adjusted EBITDA came in at $13.4 million. Those are the figures to watch if the question is whether the underlying business is covering its costs; the provision is a separate, unresolved legal matter.

What has HIVE disclosed about its pipeline beyond 2026?

HIVE has published dated targets rather than forecasts. The company is targeting approximately $200 million of GPU Cloud ARR by the fourth quarter of calendar 2026, subject to market conditions and successful deployment, and points to a Tier-III development pipeline including 70 MW in New Brunswick, Toronto, Little Boden and the planned 320 MW GTA Gigafactory.

Beyond that, the stated ambition is approximately $700 million of total HPC ARR by year-end 2028, up from the approximately $660 million named three months earlier. Both figures are company targets tied to construction that has not been completed, so they describe intent rather than capacity in service, and CoinLaw treats them accordingly.

Conclusion

HIVE Digital Technologies ended fiscal 2026 producing at scale and keeping almost none of it, with 2,885 Bitcoin mined against 150 Bitcoin held on the balance sheet at March 31, 2026. Revenue of $297.8 million and an installed hashrate of 25.1 EH/s at approximately 16.5 J/TH describe a mining business that grew roughly fourfold in a year, while the monthly yield HIVE reported at its low point, 12.3 Bitcoin per EH/s, shows how much of that expansion network difficulty absorbed.

The number worth tracking next is the distance between BUZZ HPC’s contracted annualized revenue and the revenue it actually books. Roughly a fifth of the announced total is live today, and the difference is construction risk, not revenue. The Swedish VAT provision sits in the same category: a real number in the accounts attached to an outcome nobody has settled yet.