HIVE Digital Technologies reports $79.1M in Q1 fiscal 2027 revenue as Bitcoin mining and AI segments surge

HIVE Digital Technologies reported $79.1 million in total revenue for its fiscal first quarter ending June 30, 2026, up 73.5% year over year, with digital currency mining contributing $72.1 million and its HPC and AI segment, BUZZ HPC, adding $7.1 million. The company holds approximately $110 million in contracted GPU cloud annual recurring revenue, targeting $200 million by end of 2026, and reported a GAAP net loss of $142.9 million largely due to a non-cash provision for a contested VAT matter in Sweden.

Via thecooldown.com HIVE Digital Technologies reports $79.1M in Q1 fiscal 2027 revenue as Bitcoin mining and AI segments surge The company's dual-engine strategy is showing real results, with GPU cloud contracts now approaching $110M in annual recurring revenue HIVE Digital Technologies posted $79.1 million in total revenue for its fiscal first quarter ending June 30, 2026, a figure that represents 73.5% growth year over year and a 10.2% sequential bump from the prior quarter. Where the money is coming from The bulk of HIVE’s revenue still flows from digital currency mining, which contributed $72.1 million to the quarter’s total. That segment grew 76.6% compared to the same period last year and ticked up 7.3% from Q4. HIVE mined 1,004 BTC during the quarter, a 147% year-over-year increase, supported by an average operational hashrate of 24.0 EH/s. The company’s HPC and AI segment, branded as BUZZ HPC, added $7.1 million in revenue. BUZZ HPC revenue jumped 52.1% quarter over quarter and 46.7% year over year, driven by increased demand for GPU deployments. The AI bet is getting serious HIVE now holds approximately $110 million in contracted GPU cloud annual recurring revenue, with a stated target of pushing that figure toward $200 million by the end of calendar year 2026. A major piece of that push is a recently signed agreement with Bell AI Fabric, structured to support the operations of AI company Cohere. That deal is expected to contribute $75 million to HIVE’s contracted GPU cloud ARR over a three-year period. Reading the financials carefully HIVE reported a GAAP net loss of $142.9 million for the quarter, stemming largely from non-cash items, most notably a significant provision related to a contested VAT matter in Sweden. HIVE’s cash reserves stand at $208 million. HIVE posted positive adjusted EBITDA of $13.4 million for the quarter. HIVE is scheduled to release its full earnings report on August 15, 2026, with an earnings call following on August 17. Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy https://cryptobriefing.com/editorial-policy/ .