HIVE Digital pivots from Bitcoin mining to AI data centers using hydro-powered infrastructure.

HIVE Digital Technologies is transitioning from primarily Bitcoin mining to supporting AI workloads using its hydro-powered data centers in Canada, Sweden, and Paraguay. The company leverages its existing 440 MW capacity, initially built for crypto mining, to host high-performance computing for AI, aiming to generate higher revenue per megawatt. While Bitcoin mining remains a major revenue source, HIVE’s AI-focused BUZZ HPC business is rapidly growing, with $30 million in AI cloud contracts and plans to reach $225 million in HPC revenue by late 2026. This shift addresses the growing demand for power-intensive AI infrastructure amid supply constraints and geopolitical trends favoring local AI data control.