Hive Digital, a Bitcoin miner turned data center provider, achieved record revenue of $45.6 million in fiscal Q1 2026. Mining contributed $40.8 million, up 44.9% from the previous quarter, with 406 BTC mined. HPC revenue hit $4.8 million, rising 59.8% sequentially. Adjusted earnings totaled $44.6 million. Executives aim for HPC to reach $100 million annual run rate.

Bitcoin miners like CleanSpark and MARA Holdings also reported record revenue and profits due to surging BTC prices. Hive was among the first to repurpose infrastructure for AI and HPC. TeraWulf announced a $3.7 billion AI hosting deal with Fluidstack, backed by Google. Core Scientific’s pivot to AI after bankruptcy led to a $9 billion acquisition by CoreWeave.

Hut 8 deployed over 1,000 Nvidia H100 GPUs for cloud-based AI computing, aiming to “commercialize AI data center opportunities.” The Bitcoin mining industry’s AI pivot continues, with companies like Hive, TeraWulf, Core Scientific, and Hut 8 leading the way. Jack Dorsey’s Block targets a 10-year lifecycle for Bitcoin mining rigs.

Read more at Cointelegraph: Hive Digital Q1 Earnings Hit Record on Bitcoin, AI Growth