Hive Digital Technologies said full-year revenue for fiscal 2026 rose 158% from a year earlier to $297.8 million, as digital currency mining and high-performance computing both expanded sharply.
Digital currency revenue climbed 164% to $278.3 million from $105.4 million in fiscal 2025, while bitcoin production doubled to 2,885 coins from 1,414. Average bitcoin price during the year was $98,040, up from $75,881, and average network difficulty increased to 135.8 trillion from 95.7 trillion. Installed hashrate reached 25.1 exahashes per second at March 31, 2026, compared with 6.5 EH/s a year earlier.
Buzz HPC revenue nearly doubled to a record $19.5 million from $10.0 million. In the fourth quarter, HPC revenue was $4.6 million, up 54% from $3.0 million in the same quarter last year, but slightly below the prior quarter.
Gross operating margin for the year jumped to $107.9 million from $25.1 million, with the margin rate rising to 36% from 22%. General and administrative costs increased to $31.4 million from $16.6 million.
Hive reported a GAAP net loss of $148.4 million for fiscal 2026, compared with a loss of $54.0 million in fiscal 2025. Adjusted EBITDA was $72.9 million, versus $6.2 million a year earlier. Cash from operations increased 3.5 times to $62.3 million.
On the balance sheet, digital asset holdings totaled $10.8 million at March 31, including 150 bitcoin.
For the fourth quarter, revenue was $71.8 million. Bitcoin mining revenue was $67.2 million, down 23.9% sequentially from fiscal Q3, as a lower average bitcoin price and higher network difficulty outweighed the benefit of higher operational hashrate. Hive mined 876 bitcoin in the quarter, roughly flat with the prior quarter. Gross operating margin was $17.5 million, or 24%, while G&A rose to $9.4 million from $8.4 million in Q3. The company posted a quarterly GAAP net loss of $83.3 million and adjusted EBITDA of negative $9.0 million.
Management said contracted HPC annualized recurring revenue reached $35 million at year-end, up from about $20 million after the launch of the first 504 Nvidia B200 GPU cluster for Bell Canada. The company also said its bitcoin mining hashrate rose from 6.5 EH/s to 25.1 EH/s over the year. Following these announcements, the company's shares moved 8.52%, and are now trading at a price of $4.905. For the full picture, make sure to review HIVE Digital Technologies's 8-K report.
