Hive Digital reports Q1 revenue $45.611M vs $32.241M last year

Mined 406 Bitcoin, up 34% sequentially from fiscal Q4 2025 due to increased self-mining hashrate, while average Difficulty increased 10.2% quarter over quarter. Aydin Kilic, President & CEO, stated, “This was a phenomenal quarter, we grew our production by 45% in Q1 2026, averaging 8.9 EH/s, and as a result mining 34% more Bitcoin realized 406 Bitcoin mined. Looking at where we are today, mining 7.5 Bitcoin daily with over 15 EH/s, HIVE continues a trajectory of strong momentum and continued growth amongst a strong rally in Bitcoin prices, with mining economics approaching the $60 per PH/s per day mark. We remain firmly on track to reach 25.0 EH/s by Thanksgiving, cementing HIVE among the world’s largest Bitcoin miners. This follows our rapid growth to 15.0 EH/s at the end of July, which represents an annualized Bitcoin mining revenue run rate4 of approximately $315 million based upon current prices, network hashrate, and block rewards. In Q2, also we advanced our BUZZ HPC business with the agreement to acquire a 7.2 MW Tier 3 data center in Toronto, which is expected to be closed in Q2, capable of supporting 5,000 next-gen GPUs for Canadian AI compute and launched another NVIDIA Hopper GPU cluster in Quebec as one of Canada’s leading sovereign AI clouds. These strategic moves align with our goal of achieving $100 million in high-margin run-rate revenue from cloud computing and AI model training services by calendar year 2026.”