HIVE cuts Bitcoin holdings by 331 BTC as revenue hits $297.8M

• HIVE Digital Technologies reported a 158% surge in fiscal 2026 revenue, led by Bitcoin mining and AI computing.
• The company reduced its Bitcoin holdings while investing in data center infrastructure, reflecting broader industry diversification.

On June 3, 2026 (UTC), CoinDesk reported that HIVE Digital Technologies posted a record $297.8 million in revenue for fiscal 2026, marking a 158% year-over-year increase. The company credited its growth to both strong Bitcoin mining output and a significant rise in high-performance computing (HPC) and artificial intelligence (AI) revenue. During the fiscal year, HIVE mined 2,885 BTC and cut its Bitcoin treasury by 331 BTC to 150 BTC at year-end, indicating coins were sold to fund expanding operations.

HIVE’s revenue is largely sourced from digital asset mining, which contributed $278.3 million, while HPC and AI computing revenue grew to $19.5 million. Recurring HPC contracts reached $35 million annualized, underscoring demand for specialized computing. The company unveiled major investment plans in AI data center infrastructure, including a 320-megawatt GPU cluster facility near Toronto, designed to scale HPC capabilities and handle AI workloads.

The move toward HPC and AI follows a growing trend among public Bitcoin miners facing narrower margins. Industry challenges such as weaker Bitcoin prices and greater mining difficulty have heightened cost pressures, motivating companies to deploy capital in compute infrastructure for more reliable, recurring revenue streams. Reducing direct Bitcoin holdings in favor of data center investment reflects a strategic effort to balance financial stability with growth in emerging technology sectors.

As of June 3, 2026, 06:09 UTC, Bitcoin (BTC) is trading at $67,122.20, with a 4.45% decrease in 24-hour trading volume, according to CoinMarketCap.