Hive Digital, a Bitcoin miner turned information heart infrastructure supplier, reported file income and earnings in its fiscal first quarter, pushed by sturdy development in high-performance computing (HPC) internet hosting providers alongside its core mining enterprise.
In its fiscal Q1 2026, Hive generated $45.6 million in whole income. Digital foreign money mining contributed $40.8 million, up 44.9% from the earlier quarter, as the corporate mined 406 Bitcoin (BTC) — a 34% improve quarter-over-quarter. Bitcoin’s rising worth additional supported the corporate’s efficiency.
Income from its HPC division, working underneath the Buzz HPC model, rose 59.8% sequentially to a file $4.8 million.
On an adjusted foundation, earnings totaled $44.6 million.
Though mining stays Hive’s major income driver, the corporate is more and more leveraging superior AI chips to increase its HPC enterprise. Executives Frank Holmes and Aydin Kilic informed Cointelegraph that they intention for the HPC section to achieve a $100 million annual run fee by subsequent yr.
Firm shares had been down barely following the earnings report, with HIVE final seen buying and selling round $2.20.
HIVE inventory is down 23% year-to-date. Supply: Yahoo Finance
Hive isn’t the one Bitcoin miner benefiting from the crypto bull market. Final week, CleanSpark reported file income and income, boosted by surging BTC costs.
Equally, final month MARA Holdings posted a pointy income improve, pushed by greater Bitcoin valuations and expanded mining operations.
Associated: Bitcoin miners and AI corporations compete for affordable sustainable vitality
Bitcoin mining trade’s AI pivot continues
Hive was among the many first Bitcoin miners to repurpose a part of its infrastructure for HPC and AI — a development that has solely accelerated throughout the trade.
Earlier this week, TeraWulf introduced a $3.7 billion AI internet hosting settlement with Fluidstack, an AI infrastructure supplier, with Google backing Fluidstack’s lease obligations. In return, Google obtained 41 million TeraWulf shares as a part of the deal.
Core Scientific is a outstanding instance of a Bitcoin miner whose pivot to AI revived its struggling enterprise after submitting for Chapter 11 chapter over the past crypto bear market. The corporate was later acquired by CoreWeave in a $9 billion deal.
Hut 8 has deployed over 1,000 Nvidia H100 GPUs as a part of its enlargement into cloud-based AI computing. In its newest quarterly earnings report, the corporate stated it’s working to “commercialize AI information heart alternatives.”
Associated: Jack Dorsey’s Block targets 10-year lifecycle for Bitcoin mining rigs
