HIVE Digital Technologies Surges to $79.1M in Q1 Revenue on Strong Mining and AI Growth

HIVE Digital Technologies reported $79.1 million in revenue for its Q1 fiscal 2027, marking a 73.5% year-over-year growth and a 10.2% sequential increase from the prior quarter.

The majority of HIVE's revenue comes from digital currency mining, which contributed $72.1 million to the quarter's total. This segment grew 76.6% compared to the same period last year and increased by 7.3% from Q4.

HIVE mined 1,004 BTC during the quarter, a 147% year-over-year increase supported by an average operational hashrate of 24.0 EH/s. The company's HPC and AI segment, branded as BUZZ HPC, added $7.1 million in revenue.

HIVE now holds approximately $110 million in contracted GPU cloud annual recurring revenue, with a stated target of pushing that figure toward $200 million by the end of calendar year 2026. A major piece of this push is a recently signed agreement with Bell AI Fabric to support the operations of AI company Cohere.