New York, June 2, 2026, 10:07 EDT
HIVE Digital Technologies shares traded higher in early Nasdaq action Tuesday, with the Bitcoin miner and AI infrastructure name posting higher full-year revenue. A rough fourth quarter and lower Bitcoin put a lid on the move. The stock last changed hands at $4.89, up 13 cents. Volume was 15.7 million, and the shares moved between $4.18 and $4.93.
HIVE’s push to pitch itself as more than a Bitcoin miner is running up against market realities. The company is talking up its AI computing rental business to investors, but that case is landing just as Bitcoin dropped 4.5% to $68,550. That’s a hit for miners like HIVE, who still rely on crypto for much of their revenue.
HIVE reported fiscal 2026 total revenue jumped 158% to $297.8 million. That includes $278.3 million from digital-currency mining and $19.5 million from high-performance computing, or HPC, which covers data-center computing for AI, research, and business workloads. Digital-currency revenue climbed 164%. The company said it got a boost from about a four-fold jump in installed operational hashrate, the computing muscle needed for Bitcoin mining.
March quarter numbers weighed on HIVE. The company reported fourth-quarter revenue of $71.8 million. Bitcoin mining revenue dropped 23.9% from the previous quarter as Bitcoin prices slid and network difficulty increased. Adjusted EBITDA—a metric HIVE uses that strips out interest, tax, depreciation, amortization, and some other items—was negative $9.0 million for the quarter.
HIVE Digital Technologies posted a GAAP net loss of $148.4 million for the year, taking a hit from about $221.3 million in non-cash items. The company closed March with $10.8 million in digital-currency assets, holding 150 Bitcoin.
HIVE says its mining build-out is still driving the story. Installed Bitcoin mining hashrate is now 25.3 exahashes per second, up from 6.5 EH/s at the end of March 2025. One exahash equals one quintillion calculations per second. The company reports 440 megawatts of power capacity running across Canada, Sweden and Paraguay. All sites use green energy, according to HIVE.
HIVE’s AI effort is its latest angle. The company said its BUZZ HPC unit had $35 million in contracted annualized recurring revenue at the end of its fiscal year. HIVE also said that a cluster with 504 NVIDIA B200 GPUs became operational in May at Bell Canada’s AI Fabric site in Manitoba. GPUs are used to train and run AI models.
HIVE is betting big on its planned 320-megawatt AI “gigafactory” project in the Greater Toronto Area. The BUZZ business said May 18 it wants the site to fit over 100,000 GPUs when fully finished, with hopes to start running in the second half of 2027. Projected capital investment is around C$3.5 billion. HIVE Digital Technologies
Frank Holmes, executive chairman and co-founder at HIVE, called fiscal 2026 “a defining year” after the company pushed ahead with its “dual-engine” Bitcoin mining and AI infrastructure approach. CEO Aydin Kilic described HIVE as “data-center builders and operators.” CFO Darcy Daubaras said HIVE finished the year with its Paraguay expansion “fully funded.” HIVE Digital Technologies
Peers traded mixed while showing strength early. MARA Holdings picked up around 3 cents to $14.88. Riot Platforms added 61 cents, last at $28.86. CleanSpark was up 14 cents to $18.95. HIVE’s action tracked the group, which is still moving with Bitcoin and AI data-center names.
Downside risks are clear. Bitcoin could stay weak, network difficulty might keep rising, or AI-compute demand might fall short of the levels HIVE has baked in. That would put growth at risk. HIVE has already said ARR forecasts don’t guarantee future results and aren’t GAAP revenue. Its Toronto AI project brings its own issues, with possible cost overruns, more deployment lags, softer demand, and GPU procurement setbacks.
HIVE’s stock is up on growth headlines, but the tape isn’t clear. Traders are watching to see if the AI business can keep margins up when Bitcoin slides. The 158% revenue jump isn’t the deciding factor right now; future moves may hinge on what HIVE delivers from its AI infrastructure.
