Hive Digital reported an impressive fiscal Q1 2026, achieving a total revenue of $45.6 million, with its mining segment contributing $40.8 million—a 44.9% increase from the previous quarter. The company successfully mined 406 Bitcoin, reflecting a 34% rise quarter-over-quarter, aided by Bitcoin's increasing value. Additionally, Hive's high-performance computing (HPC) division, operating as Buzz HPC, experienced substantial growth, generating $4.8 million in revenue, up 59.8% from the last quarter. Despite the mining sector being the primary revenue source, Hive is leveraging advanced AI chips to enhance its HPC operations, setting an ambitious target for the HPC segment to reach a $100 million annual run rate by the next fiscal year. Following the earnings report, Hive's stock saw a slight decline, trading around $2.20. The company is part of a broader trend in the Bitcoin mining industry, where many firms are repurposing their infrastructure for AI-related services, a shift highlighted by other companies in the sector as well.

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