HIVE Digital Technologies
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HIVE Digital Technologies (HIVE) investor relations material

HIVE Digital Technologies Q3 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2026 earnings summary17 Feb, 2026

Executive summary

  • Achieved record Q3 revenue of $93.1 million, up 219% year-over-year, with $88.2 million from Bitcoin mining and $4.9 million from HPC/AI operations, and a gross operating margin of $32.1 million.

  • Adjusted EBITDA was $5.7 million, while net loss was $91.3 million, primarily due to $57.4 million in accelerated depreciation and non-cash revaluation adjustments tied to Paraguay expansion.

  • Produced 885 Bitcoin in Q3, ending with 481 Bitcoin held in treasury and $14.1 million in cash.

  • Dual-engine growth driven by Bitcoin hashrate expansion to 25 EH/s and rising demand for BUZZ HPC platforms.

Financial highlights

  • Revenue increased to $93.1 million in Q3 FY2026 from $29.2 million year-over-year, a 219% increase, supported by higher production scale and operational uptime.

  • Gross operating margin expanded to $32.1 million (35%) from $5.3 million (18%) year-over-year, but compressed sequentially from 49% in Q2 due to digital asset price movements.

  • Adjusted EBITDA was $5.7 million, down from $82.9 million in the prior year, which included a $77.4 million unrealized gain on digital currencies.

  • Net loss of $91.3 million compared to net income of $68.2 million in the prior year, driven by non-cash depreciation and fair value adjustments.

  • Maintained a healthy working capital position with $91 million in current assets and $52 million in current liabilities.

Outlook and guidance

  • Targeting $225 million ARR in HPC and GPU cloud by year-end, scaling from $20 million currently, with 11,000 GPUs planned under the BUZZ AI platform.

  • Signed a 2-year, $30 million contract for 504 Nvidia B200 GPUs, expected to add $15 million ARR and increase HPC annualized revenue by ~75%.

  • New Brunswick Tier-III data center conversion expected to add $85 million ARR; ongoing design and permitting underway.

  • Paraguay expansion continues with 100 MW PPA and proof-of-concept for HPC AI with a major telco, leveraging 100% green energy.

  • Scenario analysis projects annualized mining margin of $88 million–$182 million at 25 EH/s, depending on BTC price.

HPC CapEx split and ROI metrics
Dynamic HODL strategy impact on mining costs
Stablecoin regulation impact on crypto ecosystem
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Q4 202626 Jun, 2026
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Frequently asked questions

HIVE Digital Technologies Ltd (formerly HIVE Blockchain Technologies Ltd) operates as a cryptocurrency mining company in Canada, Sweden, and Iceland. The company was formerly known as Leeta Gold Corp and changed its name to HIVE Blockchain Technologies Ltd in September 2017. HIVE Blockchain Technologies Ltd was incorporated in 1987 and is headquartered in Vancouver, Canada

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