Hive Digital Technologies Ltd. ( (HIVE) ) has released its Q2 earnings. Here is a breakdown of the information Hive Digital Technologies Ltd. presented to its investors.
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HIVE Digital Technologies Ltd. is a global leader in sustainable data center infrastructure, focusing on blockchain and AI technologies powered by renewable hydroelectric energy, with operations across Canada, Sweden, and Paraguay.
In its latest earnings report, HIVE Digital Technologies Ltd. announced a record-breaking second quarter with a 285% increase in revenue year-over-year, driven by significant growth in Bitcoin production and high-performance computing (HPC) services.
Key financial highlights include a total revenue of $87.3 million, a gross operating margin of 48.6%, and an adjusted EBITDA of $31.5 million. The company achieved a 101.2% sequential increase in digital currency mining revenue, producing 717 Bitcoins despite increased network difficulty. Additionally, BUZZ HPC revenue rose by 175% year-over-year, reflecting the company’s strategic expansion in high-performance computing.
HIVE’s operational milestones include the rapid expansion of its infrastructure, with 300 MW of new capacity completed in Paraguay and a recent achievement of a 25 EH/s operational hashrate. The company is also advancing its AI and HPC growth, with significant upgrades and expansions in Canada and Europe, positioning itself for future growth in these sectors.
Looking ahead, HIVE aims to capitalize on its dual-engine strategy of Bitcoin mining and HPC, with plans to scale its operations further. The company is targeting a BUZZ HPC annualized run-rate revenue of approximately $140 million by Q4 2026, supported by its continued focus on operational efficiency and sustainable growth.