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Home/News Feed/HIVE Digital reports record revenue but cuts Bitcoin holdings amid AI expansion plans

HIVE

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HIVE Digital reports record revenue but cuts Bitcoin holdings amid AI expansion plans

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Protocol Fundamentals

02 Jun 2026

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Bullish

HIVE Digital Technologies ended fiscal 2026 with record revenue of $297.8 million, up 158% year-over-year, driven mainly by digital currency mining. Despite mining 2,885 Bitcoin during the year, HIVE's Bitcoin holdings dropped from 481 to 150 BTC due to sales amid heavy capital spending and falling Bitcoin prices. The company is expanding into AI computing, with HPC revenue rising 94% to $19.5 million and plans for a 320MW AI gigafactory in Toronto by late 2027. This shift reflects a broader trend among miners diversifying beyond Bitcoin mining to stabilize revenue and support growth.

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