HIVE Digital Technologies Reports Q1 Revenue of $45.61M, Beating Estimates by $2.56M.

HIVE Digital Technologies reported Q1 revenue of $45.61M, a 41.5% YoY increase, beating estimates by $2.56M. Digital currency mining revenue rose 44.9% sequentially to $40.8 million, driven by a higher average digital currency mining hashrate of 5.9 EH/s in Q1 2026 compared to 5.9 EH/s in Q4 2025.

HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) reported a record quarterly revenue of $45.6 million for the first quarter ended June 30, 2025, marking a 41.5% year-over-year (YoY) increase and exceeding market estimates by $2.56 million. The company's digital currency mining revenue rose 44.9% sequentially to $40.8 million, driven by a higher average digital currency mining hashrate of 8.7 EH/s in Q1 2026 compared to 5.9 EH/s in Q4 2025 [1].

The company's strong performance was fueled by a 45% sequential increase in average Hashrate and robust contributions from both its Bitcoin mining and high-performance computing (HPC) operations. HIVE's Bitcoin mining revenue increased by 44.9% to $40.8 million, while its HPC revenue surged to a record $4.8 million, up 59.8% sequentially. The company's adjusted EBITDA for the quarter stood at $44.6 million, reflecting the company's operational efficiency and disciplined capital allocation strategy [1].

HIVE's digital currency mining operations accounted for the majority of its revenue, with Bitcoin mining revenue reaching $40.8 million. The company also reported a significant increase in Bitcoin production, mining 406 Bitcoin, up 34% sequentially from the previous quarter. The company's gross operating margin improved to 35%, up from 28.2% in the previous quarter, driven by increased operational efficiency and lower direct costs [1].

The company's strong performance is expected to continue, with plans to expand its mining capacity to 25 EH/s by Thanksgiving. Additionally, HIVE has made strategic moves to advance its BUZZ HPC business, including the acquisition of a 7.2 MW Tier 3 data center in Toronto and the launch of an NVIDIA Hopper GPU cluster in Quebec [1].

HIVE's financial position remains robust, with $71.9 million in cash and digital currencies at the end of the quarter. The company's management believes this positions it well to execute its growth strategy while maintaining financial resilience [1].

References:
[1] https://www.newsfilecorp.com/release/262628/HIVE-Announces-Fiscal-Q1-2026-Record-Revenue-of-45.6-Million-and-Adjusted-EBITDA-of-44.6-Million-with-an-Average-of-8.9-EHs-Representing-45-Quarter-over-Quarter-Growth-in-Hashrate