TLDR:
- HIVE sees 219% YoY growth with $93.1M in Q3 FY2026.
- Bitcoin mining boosts revenue; AI expansion accelerates growth.
- HIVE’s renewable-powered data centers fuel its success.
- $30M Nvidia contract boosts HIVE’s AI platform in 2026.
- Paraguay expansion drives HIVE’s renewable energy strategy.
HIVE Digital Technologies Ltd. (HIVE) has made waves in the market, with a notable surge in stock price following their strong Q3 results. The company, a key player in sustainable data center infrastructure, reported record-breaking quarterly revenue of $93.1 million, marking a 219% year-over-year increase. Despite a small dip of 1.36% in pre-market trading at $2.18, the company’s performance during Q3 FY2026 signals significant growth, particularly in its Bitcoin mining and AI expansion efforts.
HIVE Digital Technologies Ltd., HIVE
Q3 FY2026 Results Highlight Bitcoin Mining Revenue and Expansion
HIVE’s Q3 performance was heavily driven by its digital currency hashrate operations. The company saw a significant rise in Bitcoin-related revenue, totaling $88.2 million, reflecting an 8% increase from the previous quarter. Despite lower Bitcoin prices and rising network difficulty, HIVE’s operational efficiency and scale-out to a 25 Exahash per second (EH/s) fleet powered substantial growth. The company’s ability to generate 885 Bitcoins, up 23% quarter-over-quarter, contributed significantly to its revenue.
Alongside Bitcoin revenue, HIVE also reported an impressive gross operating margin of $32.1 million, up sixfold from the previous year. This strong performance is attributed to the company’s advanced infrastructure, which includes hydro-powered data centers. As a result, HIVE has positioned itself as a leader in the digital currency mining sector, capitalizing on its renewable energy-driven model and expanding capacity in Paraguay.
AI Expansion and BUZZ HPC Platform Drive Future Growth
HIVE is experiencing accelerated growth in its AI and high-performance computing (HPC) platforms. The company’s BUZZ AI subsidiary reported $4.9 million in revenue for Q3, a key contributor to the overall expansion. In February 2026, HIVE secured a $30 million contract for Nvidia B200 GPUs, aimed at boosting its AI capabilities and generating an additional $15 million in annual recurring revenue (ARR).
HIVE’s commitment to AI expansion is evident as it targets a $140 million ARR by Q4 2026, with a plan to deploy 11,000 GPUs. The company’s dual-engine strategy, which combines Bitcoin mining as a cash generator and AI for high-growth potential, is expected to solidify its position in the rapidly growing AI sector. HIVE’s recent move to expand its GPU cloud and colocation services further strengthens its long-term strategy, as the company seeks to capitalize on the increasing demand for AI computing power.
Strategic Expansion and Future Outlook Remain Strong
HIVE continues to strengthen its position with global expansions and strategic initiatives. The company has recently completed its Paraguay buildout, bringing 300 MW of green-energy Tier-I infrastructure online. Looking ahead, HIVE expects to operate a 540 MW energy footprint by the end of 2026, further solidifying its commitment to renewable energy and scalability. The company is also positioning Paraguay as a key hub for AI and HPC growth, anticipating significant contributions to the country’s GDP through infrastructure investments.
HIVE’s dual-engine growth strategy, combining Bitcoin mining with AI and HPC, ensures a balanced, diversified approach to future expansion. With strong gross margins and disciplined G&A growth, the company’s outlook remains promising. As the company continues to scale its operations in digital currency and AI, HIVE is positioning itself for sustained revenue growth well into 2026 and beyond.
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