HIVE Revenue Surges 73.5% as Bitcoin Mining and AI Growth Accelerate

HIVE Digital Technologies has posted its strongest quarter on record, driven by both a booming Bitcoin mining operation and a fast-scaling artificial intelligence cloud business. The Nasdaq-listed company reported total revenue of $79.1 million for Q1 2027, up 73.5% year-over-year and 10.2% from the prior quarter.

The company's Bitcoin production surged 147%, with an average operational hashrate nearly tripling to 24.0 EH/s. Gross operating margins on the mining side improved to 30.6%, or $24.2 million, indicating better efficiency alongside sheer scale.

HIVE's pivot toward artificial intelligence infrastructure is gaining momentum, with its HPC division posting a 52.1% sequential revenue increase fueled by the installation of NVIDIA B200 GPU clusters at its Manitoba facility.