HIVE's $1 Million Daily Revenue: Bitcoin Mining Dominates

HIVE Digital Technologies reported that its Bitcoin mining and GPU-cloud businesses generated over $1 million in combined average daily revenue from August 21 to September 10. The company's AI pivot contributed less than roughly 10% of this total, with the majority coming from Bitcoin mining.

The GPU cloud business produced about $100,000 a day during this period, while Bitcoin mining supplied more than nine-tenths of the reported revenue. HIVE mined an average of about 12 Bitcoin per day, accounting for roughly 2% of global network production.

The company had closed over $600 million in GPU-cloud total contract value year to date, but warned that this does not guarantee future revenue. The distinction follows reports of a $350 million AI cloud agreement and the financing demands of the related $185 million GPU buildout.