HIVE Bitcoin holdings drop by 331 BTC in Q1, reports record $298M revenue
HIVE Digital Technologies reduced its Bitcoin holdings to 150 BTC from 481 BTC in the previous quarter, a drop of 331 BTC, while reporting strong annual growth in revenue. The company mined 2,885 BTC in fiscal 2026 and posted total revenue of $297.8 million, up 158% year over year, driven mainly by expanded Bitcoin mining operations. Digital currency mining revenue reached $278.3 million, and HPC revenue nearly doubled to $19.5 million. Higher costs weighed on results as HIVE expanded its mining and data center footprint, with depreciation rising sharply to $170.4 million. HIVE also signaled growing focus on AI infrastructure, with HPC annual recurring revenue reaching $35 million and plans for a large AI data center project in the Greater Toronto Area.
