What to know:
- HIVE Bitcoin holdings fell to 150 BTC, marking a 331 BTC drop from the prior quarter.
- HIVE revenue rose 158% to $297.8M as mining and HPC segments expanded in fiscal 2026.
- HPC revenue nearly doubled to $19.5M as HIVE advanced its AI data center expansion plans.
HIVE Bitcoin holdings declined in the latest quarter, even as HIVE Digital Technologies reported stronger annual revenue from mining and high-performance computing. The Canadian Bitcoin miner ended the fiscal year with 150 BTC, down from 481 BTC at the end of Q4 2025. The drop showed a reduction of 331 BTC during the quarter.
As per the report, the reduction in HIVE Bitcoin holdings was worth approximately $23 million at current prices. CoinGecko data showed that Bitcoin’s year-to-date price drop was about 21.5%, which also decreased the market value of miner-held reserves.
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HIVE Reports 2,885 BTC Mined in Fiscal 2026
HIVE did not directly say it sold Bitcoin. The company said it mined 2,885 BTC during fiscal 2026 and generated $297.8 million in revenue.
That revenue was up 158% from the previous year. The increase was primarily due to increased Bitcoin mining operations and increased revenues from high-performance computing services.
The reduction in HIVE bitcoin holdings is a testament to the company’s treasury management strategy during a time of rapid growth. Public miners continue to face higher costs as they build larger mining sites and add new computing businesses.
Digital currency mining continued to be HIVE’s biggest income source. The segment brought in $278.3 million in the fiscal year.
There was an increase of $19.5 million in high-performance computing revenues. That was nearly double the previous year’s total of $10 million from the business.
Costs also increased during the year. As HIVE grew its mining and data center business, it incurred additional operating and maintenance costs.
HIVE Bitcoin Holdings Decline as HPC Revenue Grows
Depreciation reached $170.4 million. This was almost triple from the previous year and was one of the biggest costs on the income statement.
HIVE stated that its HPC segment grew as a result of demand for AI computing services. By the end of the year, the company had $35 million of contracted annual recurring revenue from that business.
The company attributed the figure to Nvidia-powered GPU cluster deployments and to new enterprise contracts. It also referenced a proposed 320 MW AI data center project in the Greater Toronto Area.
HIVE estimated that the project could eventually accommodate over 100,000 GPUs. The roadmap coincides with its ongoing expansion from Bitcoin mining to AI infrastructure.
HIVE’s revenue surged significantly as the Bitcoin holdings went down. It also reflects the pressure on the public miners due to the rise in the cost of expansion and the increase in the competition of mining.
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