HIVE Q1 2027 revenue soars 73.5%, but a Swedish tax hit erases the gain
HIVE Digital Technologies just posted one of its strongest quarters on record, and the numbers tell a story of a crypto miner rapidly reinventing itself as an AI infrastructure player. HIVE Q1 2027 revenue climbed to $79.1 million for the three months ended June 30, 2026, a jump that reflects both a booming Bitcoin mining operation and a fast-scaling artificial intelligence cloud business. The Nasdaq-listed company, trading under the ticker HIVE, also disclosed a steep accounting loss tied to a tax dispute in Sweden, adding a layer of complexity to what is otherwise a growth story.
Key takeaways
- Total revenue for fiscal Q1 2027 reached $79.1 million, up 73.5% year-over-year and 10.2% from the prior quarter.
- Bitcoin production surged 147% to 1,004 BTC as operational hashrate climbed to 24.0 EH/s.
- Contracted GPU Cloud annual run-rate revenue hit $110 million, with HIVE targeting $700 million by 2028.
- A GAAP net loss of $142.9 million was driven largely by an $84.7 million non-cash provision tied to a Swedish VAT dispute.
- HIVE held $208 million in cash and $11.2 million in digital currencies at quarter-end, after raising $31.1 million through equity sales.
HIVE’s Strong Revenue Growth and Bitcoin Production Surge
The headline number is straightforward: HIVE’s top line grew nearly 74% compared with the same quarter a year earlier, driven by a mining operation that expanded far faster than the broader Bitcoin network’s difficulty curve. Digital currency operations alone generated $72.1 million of the total, while the company’s high-performance computing segment contributed $7.1 million.
… Continue reading the full article at the original source below.
