HIVE Digital Technologies reported $79.1 million in Q1 revenue, driven by Bitcoin mining expansion and AI infrastructure investments.
HIVE Digital Technologies reported fiscal first-quarter revenue of $79.1 million, a 73% increase from $45.6 million a year earlier and a 10% sequential rise. The growth was fueled by expanded Bitcoin mining operations and investments in high-performance computing and AI infrastructure.
The company posted a GAAP net loss of $142.9 million, or $0.54 per share, compared with net income of $35 million, or $0.19 per share, in the prior-year quarter. The loss included $84.7 million tied to a Swedish VAT dispute and $53.7 million in depreciation.
Bitcoin mining generated $72.1 million in revenue, while HPC and AI operations contributed $7 million. Gross operating margin rose to $24.2 million from $15.8 million year-over-year, though margin percentage declined to 31% from 35%.