Crypto
HIVE Digital Sees 73.5% Revenue Surge in Q1 FY27 Driven by AI Cloud and Bitcoin Mining Growth
HIVE Digital Technologies' first quarter of fiscal year 27 has seen a significant surge in revenue, up by 73.5% year-over-year to $79.1 million.
This growth is primarily driven by expansion in the company's BUZZ HPC AI cloud and Bitcoin mining operations.
The company's gross margin also improved to 30.6%, with a positive adjusted EBITDA of $13.4 million.
Buzz HPC's contracted GPU cloud annual recurring revenue reached about $180 million, supported by a new five-year customer contract worth $350 million.