HIVE Digital Technologies has reported record financial results for Q1 2026, covering the period ending June 30, 2025. Revenue reached $45.6 million, while Adjusted EBITDA was $44.6 million, fueled by strong Bitcoin mining output and high-performance computing (HPC) demand.
Bitcoin mining generated $40.8 million in income, up 44.9% quarter-over-quarter. The company’s average hashrate jumped 45% to 8.9 EH/s, driving production of 406 BTC — a 34% increase despite a 10.2% rise in network difficulty. The direct cost of mining stood at $26.8 million, with electricity representing 90% of expenses.
The BUZZ HPC division also posted record results, delivering $4.8 million in revenue, nearly 60% higher than the prior quarter. The segment benefited from increasing AI and compute demand, with direct costs of $2.1 million.
Overall, gross operating margin rose to $15.8 million (34.7%), compared to $8.8 million (28.2%) in Q4 2025. Net income came in at $35.0 million, boosted by $23.2 million in digital currency gains, $8.2 million in equity gains, and a $16.4 million derivative revaluation.
Looking ahead, HIVE expects to scale from 15 EH/s in July to 25 EH/s by Thanksgiving, supported by acquisitions and new NVIDIA GPU deployments. The company ended the quarter with $71.9 million in cash and cryptocurrencies.
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