HIVE Exceeds $1 Million Daily Revenue from Bitcoin Mining and AI Cloud
HIVE Digital Technologies has achieved a major milestone in its revenue stream, exceeding $1 million in daily income from Bitcoin mining and AI cloud services. This achievement combines the company's income from two sources: Bitcoin mining, which provides the bulk of HIVE's daily income, and GPU cloud operations through its subsidiary BUZZ HPC.
According to preliminary estimates, HIVE has produced an average of approximately 12 Bitcoin per day since August 21, representing roughly 2% of global Bitcoin network production. The company earns revenue by using computing power to process transactions on the Bitcoin network and receiving newly minted coins as a reward.
BUZZ HPC, which provides GPU-powered computing infrastructure under long-term contracts with enterprise, government, and research clients, has generated approximately $100,000 in average daily revenue over the same period. Year-to-date, BUZZ HPC has closed more than $600 million in total contract value for GPU cloud deals, including three- and five-year agreements with creditworthy counterparties.
HIVE plans to wind down its Bitcoin mining operations at Swedish facilities, which represented less than 5% of global daily revenue during August. The company is evaluating repurposing that infrastructure for higher-value HPC and AI applications instead, signaling a shift towards reallocation of energy resources.