Hive Digital Technologies Sets New Records in Q1 2026 Earnings with $45.6mln Revenue and $44.6mln Adjusted EBITDA

Hive Digital Technologies reported Q1 2026 earnings with record revenues of $45.6 million and adjusted EBITDA of $44.6 million, driven by a 45% increase in hashrate and strong performance in Bitcoin mining and HPC operations. Digital currency mining revenue rose 44.9% to $40.8 million and HPC revenue increased 59.8% to $4.8 million. The company mined 406 Bitcoin, a 34% sequential increase, and achieved a gross operating margin of 34.7%. Hive ended the quarter with a net income of $35.0 million and plans to reach a 25 EH/s hashrate by Thanksgiving and expand its HPC business with strategic acquisitions.

Hive Digital Technologies (HIVE) has reported robust Q1 2026 earnings, highlighting the company's continued growth and operational efficiency in Bitcoin mining and high-performance computing (HPC) operations. The company's quarterly results underscore its strategic expansion and technological advancements, positioning HIVE as a key player in the digital infrastructure sector.

Record Revenues and Adjusted EBITDA

HIVE reported record revenues of $45.6 million and adjusted EBITDA of $44.6 million for Q1 2026. The company's earnings were driven by a 45% increase in hashrate, reflecting its aggressive expansion strategy. Digital currency mining revenue rose by 44.9% to $40.8 million, while HPC revenue increased by 59.8% to $4.8 million. The company mined 406 Bitcoin, a 34% sequential increase, and achieved a gross operating margin of 34.7%.

Operational Highlights

The company's strong performance is underpinned by its strategic focus on operational scalability and energy efficiency. HIVE's expansion in Paraguay, leveraging the country's renewable energy resources and next-generation hardware, has been a critical driver of growth. As of Q1 2026, HIVE's global hashrate has surpassed 16 Exahash per second (EH/s), with Paraguay contributing over 11.5 EH/s to this total [1].

Expansion Plans and Financial Outlook

HIVE plans to reach a 25 EH/s hashrate by Thanksgiving 2025, with Paraguay playing a pivotal role in this expansion. The company's deterministic cash flow model and focus on renewable energy create a durable competitive edge in the energy-cost-sensitive mining sector [1].

Moreover, HIVE aims to expand its HPC business through strategic acquisitions, further diversifying its revenue streams. The company's pledge strategy, which leverages $200 million in Bitcoin to fund expansion without dilution or debt, ensures capital discipline and contrasts with peers' losses [1].

Investment Thesis

For investors, HIVE's Q1 2026 earnings report underscores its ability to scale profitably and maintain a competitive edge in the Bitcoin mining industry. The company's focus on operational efficiency and renewable energy creates a moat against rising energy costs and regulatory scrutiny. As Bitcoin's energy transition continues, HIVE's strategic expansion in Paraguay offers a unique opportunity to capitalize on this trend.

Conclusion

Hive Digital Technologies' Q1 2026 earnings report demonstrates the company's ability to execute its strategic expansion plans and maintain operational excellence. With record revenues, strong margins, and a focus on renewable energy, HIVE is well-positioned to continue its growth trajectory and capture a meaningful slice of the Bitcoin mining market. As the industry consolidates around efficiency and ESG compliance, HIVE's strategic execution and capital-efficient growth model position it as a leader in the digital infrastructure sector.

References

[1] https://www.ainvest.com/news/hive-digital-technologies-scaling-paraguay-green-mining-power-capture-bitcoin-future-2508/
[2] https://www.hivedigitaltechnologies.com/news/hive-digital-technologies-crosses-16-ehs-marching-toward-25-ehs/