HIVE Digital Sees Revenue Surge 73.5% Amid Bitcoin Mining Boom

HIVE Digital Technologies reported strong quarterly results, with revenue increasing by 73.5% year-over-year to $79.1 million in Q1 FY2027. The growth was driven by higher Bitcoin production and expanding high-performance computing (HPC) services.

The company received 1,004 Bitcoin rewards, a 147% rise from last year, and grew HPC revenue by 46.7% due to new GPU deployments and strong demand.

Despite a GAAP net loss of $142.9 million mainly from non-cash charges including an $84.7 million VAT provision in Sweden, adjusted EBITDA was positive at $13.4 million.