Core Insights - Hive Digital Technologies, a publicly-traded Bitcoin mining firm, reported record revenue of $87.3 million for the second quarter, marking a 285% year-over-year increase and a 91% rise compared to the previous quarter [2] - The company's stock rose by over 7.5% to a closing price of $3.56, contrasting with declines in other major crypto stocks [3] - Despite the stock rise, Hive's stock is down more than 37% over the last month due to broader market trends [3] Financial Performance - Hive's Bitcoin mining revenue reached $82.1 million, driven by an 86% quarter-over-quarter increase in average hash rate to 16.2 EH/s, with 717 Bitcoin mined during the quarter, a 77% increase from Q1 [5] - The adjusted EBITDA was reported at $31.5 million, indicating strong performance in both Bitcoin mining and high-performance computing segments [2] - The Buzz high-performance computing division generated record revenue of $5.2 million, up 175% year-over-year, with gross operating margins improving to 49% [5] Operational Developments - Hive completed a 300 MW addition of new capacity in Paraguay, achieving an operational hash rate of 25 EH/s, and operates a global hydro-powered data center footprint of 540 MW [6] - The company has secured a path to 400 MW in Paraguay through power purchase agreements, with potential scaling to 35 EH/s by Q4 2026 [6] Strategic Partnerships - Hive's Buzz subsidiary announced a deal with Dell Technologies to deploy 504 latest-generation GPUs through liquid-cooled servers at the Bell AI Fabric data center [7] - The company is targeting a fleet of over 6,000 new GPUs by the end of 2026, in addition to 5,000 GPUs already operational [7]