Hive Digital posts record Q1 revenue in 2026

Hive Digital reported record Q1 2026 revenue, with mining income up 44.9% and HPC hosting rising nearly 60%.

Strong quarterly performance

Hive Digital, once known only as a Bitcoin mining firm, has transformed into a diversified data center infrastructure provider. In fiscal Q1 2026, the company reported record revenue of $45.6 million.

Bitcoin mining remains its primary source of income. Hive mined 406 BTC in the quarter, up 34% from the previous period. Mining revenue surged 44.9% to $40.8 million, supported by Bitcoin’s price, which traded above $115,000.

HPC business expansion

At the same time, Hive is accelerating growth in its high-performance computing (HPC) unit, operating under the Buzz HPC brand. Revenue from this segment climbed 59.8% to a record $4.8 million. Executives Frank Holmes and Aydin Kilic emphasized their goal to scale HPC operations to a $100 million annual run rate by next year.

The company is leveraging advanced AI chips to expand into artificial intelligence and cloud services. This shift reflects a broader trend among Bitcoin miners to diversify into AI and high-performance computing to secure long-term profitability.

Bitcoin miners pivot to AI

Hive Digital is not alone in this strategy. TeraWulf recently announced a $3.7 billion AI hosting agreement with Fluidstack, supported by Google. Core Scientific successfully revived its business by pivoting to AI infrastructure and was later acquired by CoreWeave in a $9 billion deal. Hut 8 has also deployed over 1,000 Nvidia H100 GPUs to expand into cloud-based AI computing.

By combining Bitcoin mining with HPC and AI services, Hive Digital strengthens its position in both industries. The dual strategy ensures stability during crypto market cycles while tapping into the booming demand for AI infrastructure.