HIVE Digital Technologies Reports $84.9 Million Q2 Revenue Driven by AI Cloud Growth
HIVE Digital Technologies reported fiscal second-quarter revenue of $84.9 million, representing a 7.3% increase from the previous quarter. While Bitcoin mining remains the primary revenue driver at $76.0 million, the company's strategic pivot toward high-performance computing (HPC) is showing significant momentum. Its subsidiary, BUZZ HPC, saw AI cloud revenue surge by over 70% year-over-year to $8.8 million. The company has secured substantial long-term contracts, including a $225 million sovereign AI deal with Cohere and a $350 million agreement with an investment-grade enterprise customer. HIVE aims to reach $200 million in GPU cloud annual recurring revenue (ARR) by the end of 2026 and targets $700 million in total HPC ARR by 2028, contingent on financing and infrastructure expansion.
Topics: AI cloud computing Bitcoin mining GPU rental Revenue growth
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Part of the story HIVE Digital Reports Q2 2027 Revenue Growth Driven by HPC and Bitcoin Mining (5 articles)