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HIVE Announces Fiscal Q1 2026 Record Revenue of $45.6 Million and Adjusted EBITDA of $44.6 Million with an Average of 8.9 EH/s Representing 45% Quarter over Quarter Growth in Hashrate
Newsfile· 2025-08-15 05:24
Core Insights - HIVE Digital Technologies Ltd. reported record revenue of $45.6 million for fiscal Q1 2026, driven by a 45% quarter-over-quarter increase in average hashrate to 8.9 EH/s, reflecting strong performance in Bitcoin mining and high-performance computing (HPC) operations [2][3][4]. Financial Performance - Total revenue reached $45.6 million, a significant increase from the previous quarter, with digital currency mining contributing $40.8 million, up 44.9% sequentially [4][5]. - Gross operating margin was $15.8 million, representing a margin of 34.7%, an increase from 28.2% in the previous quarter [4][5]. - Net income for the quarter was $35.0 million, primarily from realized and unrealized gains on digital currencies [5][8]. Mining Operations - The company mined 406 Bitcoin during the quarter, a 34% increase from the previous quarter, with an average mining difficulty increase of 10.2% [4][5]. - The average hashrate for Bitcoin mining increased from 5.9 EH/s in fiscal Q4 2025 to 8.7 EH/s in fiscal Q1 2026, marking a 47% increase [4][5]. HPC Business - HPC revenue reached a record $4.8 million, up 59.8% sequentially, driven by strong demand in high-performance computing markets [4][5]. - The company is expanding its HPC capabilities with the acquisition of a 7.2 MW Tier 3 data center in Toronto, expected to support 5,000 next-gen GPUs [8]. Strategic Outlook - HIVE aims to reach a hashrate of 25 EH/s by Thanksgiving 2025, positioning itself among the world's largest Bitcoin miners [8]. - The company is targeting $100 million in high-margin run-rate revenue from cloud computing and AI model training services by calendar year 2026 [8].
RETRANSMISSION: HIVE Achieves FY2025 Total Revenue of $115.3 Million and $56.2 Million Adjusted EBITDA with 1,414 Bitcoin Mined and 3x Growth in AI GPU Revenue
Newsfile· 2025-06-26 10:00
Core Insights - HIVE Digital Technologies Ltd. reported total revenue of $115.3 million for FY2025, with a significant contribution from digital currency mining and high-performance computing (HPC) services [2][5] - The company achieved an adjusted EBITDA of $56.2 million, representing 48.7% of total revenue, despite a net loss of $3.0 million [5][6] - HIVE's digital currency mining revenue decreased by 5.2% year-over-year to $105.2 million, primarily due to the April 2024 Bitcoin halving and increased hash rate difficulty, although offset by a 40% increase in mining hashrate [5][6] Financial Highlights - Total revenue for FY2025 was $115.3 million, with digital currency mining contributing $105.2 million and HPC revenue at $10.1 million, which saw a 3x growth year-over-year [5][7] - The company mined 1,414 Bitcoin during the fiscal year, contributing to its digital asset holdings valued at $181.1 million, including 2,201 Bitcoin [5][6] - Gross operating margins were reported at $25.1 million, or 21.8% of total revenue, while general and administrative expenses increased to $16.6 million due to global expansion efforts [5][6] Management Insights - The company expanded its operational hashrate from 4.5 EH/s to 6.3 EH/s, a 40% increase, and acquired 300 MW of hydro-powered green energy sites in Paraguay [6][7] - HIVE aims to scale its Bitcoin mining business to 25 EH/s by December 31, 2025, and continues to grow its Buzz HPC business [6][7] - The transition from IFRS to US GAAP is expected to enhance comparability with U.S.-listed peers and support growth ambitions in U.S. capital markets [6][7] Q4 FY2025 Highlights - For Q4 FY2025, total revenue was $31.2 million, with digital currency mining revenue at $28.1 million, reflecting a 5.5% sequential increase [7] - The company mined 303 Bitcoin in Q4, a 6% decrease from the previous quarter due to increased hashrate difficulty [7] - Buzz HPC revenue reached a record $3.0 million during the quarter, up 18.5% sequentially, driven by strong demand in high-performance computing markets [7]
HIVE Achieves FY2025 Total Revenue of $115.3 Million and $56.2 Million Adjusted EBITDA with 1,414 Bitcoin Mined and 3x Growth in AI GPU Revenue
Newsfile· 2025-06-26 06:10
Core Insights - HIVE Digital Technologies Ltd. reported total revenue of $115.3 million for FY2025, with a significant contribution from digital currency mining and high-performance computing (HPC) services [6][3] - The company achieved adjusted EBITDA of $56.2 million, representing 48.7% of total revenue, despite a net loss of $3.0 million [6][3] - HIVE's Bitcoin production reached 1,414 Bitcoin, while HPC revenue grew approximately threefold year-over-year to $10.1 million [6][3] Financial Highlights - Total revenue for FY2025 was $115.3 million, with digital currency mining revenue at $105.2 million, down 5.2% year-over-year [6] - HPC/AI Cloud revenue was $10.1 million, a 194% increase from $3.4 million in FY2024 [6] - Gross operating margin was $25.1 million, equating to 21.8% [6] - General and administrative expenses rose to $16.6 million from $13.2 million in FY2024 due to increased staffing for global expansion [6] - Total digital currency assets were valued at $181.1 million, including 2,201 Bitcoin [6] Management Insights - The company expanded its operational hashrate from 4.5 EH/s to 6.3 EH/s, a 40% increase, despite challenges from the Bitcoin halving [7] - HIVE acquired 300 MW of hydro-powered green energy sites in Paraguay, enhancing its leadership in sustainable mining [7] - The company aims to scale its Bitcoin mining business to 25 EH/s by December 31, 2025, and continues to grow its Buzz HPC business [7] - HIVE transitioned its financial reporting from IFRS to US GAAP to align with strategic objectives and enhance comparability with U.S. peers [7] Q4 FY2025 Highlights - Q4 total revenue was $31.2 million, with digital currency mining revenue at $28.1 million, reflecting a 5.5% sequential increase [8] - General and administrative expenses for Q4 were $5.3 million, up from $4.6 million in Q3 FY2025 [8] - Bitcoin production in Q4 was 303 Bitcoin, down 6% sequentially due to increased hashrate difficulty [8] - Buzz HPC revenue reached a record $3.0 million in Q4, an 18.5% sequential increase [8]