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Jun 30
Hive Q1 2026 Earnings Report
HIVE reported record revenue and net income in Q1 FY2026, driven by significant growth in its Bitcoin mining hashrate and performance of its BUZZ HPC business.
Key Takeaways
HIVE delivered strong results in Q1 FY2026 with record revenue of $45.6 million, net income of $35.0 million, and adjusted EBITDA of $44.6 million, fueled by a 45% quarter-over-quarter increase in hashrate and growth in both Bitcoin mining and high-performance computing segments.
Achieved record revenue of $45.6 million, driven by growth in both Bitcoin mining and BUZZ HPC businesses.
Mined 406 Bitcoin during the quarter, a 34% increase from Q4 FY2025.
Adjusted EBITDA reached $44.6 million, nearly matching total revenue, highlighting high operating efficiency.
Net income of $35.0 million supported by gains from digital currencies and equity investments.
Hive
Hive
Hive Revenue by Segment
Revenue by Segment
Bitcoin Mining Revenue
CapyFin.comBUZZ HPC Revenue
CapyFin.com Forward Guidance
HIVE plans to reach 25 EH/s by Thanksgiving and scale BUZZ HPC revenue to $100 million annually by 2026.
Positive Outlook
- Targeting 25 EH/s hashrate by Thanksgiving 2025.
- Strong daily Bitcoin production of 7.5 BTC with over 15 EH/s as of August 2025.
- Expected $315 million annualized Bitcoin mining revenue run rate.
- Expansion of BUZZ HPC with acquisition of 7.2 MW Tier 3 data center in Toronto.
- Launch of new NVIDIA Hopper GPU cluster to boost AI compute offerings.
Challenges Ahead
- Increased G&A expenses from global expansion.
- Exposure to volatile Bitcoin prices may impact revenue predictability.
- Continued dependency on electricity costs, especially with global facility expansion.
- Growth strategy may increase capital requirements.
- Regulatory risks remain in cryptocurrency mining and data center operations.
Revenue & Expenses
Visualization of income flow from segment revenue to net income