Earnings ·
HIVE Digital Reports Q2 Revenue of $84.9 Million and Adjusted EBITDA of $24.8 Million
HIVEHIVE Digital Technologies Ltd.
HIVE Digital Technologies Ltd. reported second-quarter fiscal 2027 revenue of $84.9 million, a 7.3% sequential increase but a 2.7% year-over-year decline. High-performance computing (HPC) revenue surged 70.7% to $8.8 million, driven by the deployment of NVIDIA B200 GPU clusters, while digital currency mining revenue fell 7.4% to $76.0 million due to lower Bitcoin prices. The company posted a GAAP net loss of $78.7 million, heavily impacted by $54.9 million in depreciation and a $31.2 million non-cash impairment of mining equipment. Adjusted EBITDA rose 85% sequentially to $24.8 million, supported by improved gross operating margins of 35.6%. HIVE ended the quarter with $139.0 million in cash and $22.6 million in digital currencies, while announcing approximately $185 million in contracted GPU Cloud annualized recurring revenue (ARR). The company operates sustainable data center infrastructure for Bitcoin mining and AI computing services.