Hive Digital (NASDAQ: HIVE) posted revenue of $45.6 million for the quarter ended June 30 (Q1 2026 fiscal). Hive’s average hashrate rose 45% from the previous quarter to 8.9 EH/s.
Hive’s mining revenue accounted for $40.8 million of total revenue, up 44.9% from the prior quarter as the company’s average mining hashrate climbed from 5.9 EH/s to 8.7 EH/s and bitcoin prices ticked higher. Hive’s high-performance computing hosting under its business segment BUZZ HPC generated $4.8 million, a 59.8% quarter-over-quarter gain.
The company mined 406 Bitcoin during the quarter, 34% more than in the prior quarter, despite a 10.2% increase in network difficulty. Hive’s direct costs totaled $29.8 million, yielding a gross operating margin of 34.7%.
The company ended the period with $71.9 million in cash and crypto and maintained operations across Canada, Sweden and Paraguay.
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At time of publication, HIVE is up 1.4% from yesterday’s close.
