HIVE Digital Technologies, traditionally a Bitcoin miner, is repurposing its hydro-powered data centers in Canada, Sweden, and Paraguay to support AI computing workloads. While Bitcoin mining remains its main revenue source, generating $88.2 million last quarter, the company is rapidly expanding its AI-focused HPC business, which earned $4.9 million last quarter and has secured $30 million in AI cloud contracts. HIVE aims to reach $225 million in AI revenue by late 2026 by leveraging existing infrastructure to meet growing AI power demands, balancing mining cash flow with AI growth investments. This strategic pivot positions HIVE to capitalize on the increasing need for AI data centers amid power and geopolitical constraints.
