HIVE FY2026 Revenue Surges 158% to $298M, AI GPU Earnings Outpace Mining by 24-Fold

Odaily Planet Daily reports: HIVE Executive Chairman Frank Holmes stated that the company’s cluster of 504 NVIDIA B200 GPUs at Bell Canada’s Manitoba AI fabric generates approximately $2.90 per GPU per hour; in comparison, HIVE’s Bitcoin mining equipment generates about $0.12 per hour. HIVE’s total revenue for fiscal year 2026 reached $298 million, a 158% year-over-year increase; digital currency revenue from Bitcoin mining rose 164%. During the same period, the average hash rate was 22.2 EH/s, a 290% year-over-year increase, accounting for approximately 3% of Bitcoin’s total network hash rate, with 2,885 BTC mined. HIVE’s BUZZ HPC division, which handles AI and high-performance computing, generated $19.5 million in revenue, a 94% increase from $10 million in the prior fiscal year. The company also signed a $220 million GPU cloud agreement with Bell and AI company Cohere, and raised $75 million through note issuance to fund expansion of its AI infrastructure. HIVE is constructing a 320-megawatt AI data center in the Greater Toronto Area, planned to eventually house over 100,000 GPUs. The company stated that if the facility becomes fully operational in the second half of 2027, it could generate an annualized recurring revenue of approximately $360 million.