HIVE Digital Revenue Surges 219% Amid Adverse Mining Conditions

HIVE Digital Technologies reported its Q3 results, showcasing a significant surge in revenue. The company earned $93.1 million for the period ending December 31, 2025, representing a 219% increase from the same quarter last year.

The gross operating margin expanded more than sixfold year-over-year to $32.1 million, accounting for approximately 35% of total revenue. This growth can be attributed to the company's artificial intelligence and high-performance computing business, which complemented its core Bitcoin mining operations.

Notably, HIVE achieved these results under adverse mining conditions. Bitcoin prices declined by about 10%, while network difficulty rose around 15%. However, the company still managed to produce 885 Bitcoins during the quarter, a 23% increase from the previous period, and scaled its installed hash rate to 25 exahashes per second.

In February, HIVE signed a two-year, $30 million contract with Nvidia to deploy 504 B200 GPUs for enterprise AI cloud services. This deal is expected to contribute approximately $15 million in annual recurring revenue and boost the company's high-performance computing annualized revenue run rate by around 75%.

Management aims to reach $140 million in annual recurring AI cloud revenue by the fourth quarter of 2026, with a broader goal of scaling total high-performance computing revenue to $225 million through expanded GPU cloud and colocation capacity. This diversification push is positioning AI infrastructure as a parallel growth engine alongside Bitcoin mining.