- HIVE Digital Technologies (HIVE, Financial) achieved FY2025 total revenue of $115.3 million and Adjusted EBITDA of $56.2 million.
- The company reported a 3x increase in AI GPU revenue to $10.1 million and mined 1,414 Bitcoin.
- HIVE expanded operations in Paraguay with 300 MW of hydro-powered sites, aiming for a 25 EH/s hashrate by December 2025.
HIVE Digital Technologies (HIVE) reported total revenue of $115.3 million for the fiscal year 2025, supported by digital currency mining and high-performance computing (HPC) hosting services. Despite a 5.2% decrease in digital currency mining revenue to $105.2 million due to the Bitcoin halving and increased network difficulty, the company increased its operational hashrate by 40%, from 4.5 EH/s to 6.3 EH/s.
Significantly, HIVE's AI GPU revenue saw a threefold increase to $10.1 million, driven by the expansion of its GPU fleet to over 5,000 units. This growth reflects the strong demand for high-performance computing services in the market. The company mined 1,414 Bitcoin throughout the year, finishing with digital assets valued at $181.1 million, including 2,201 Bitcoin.
The fiscal year saw HIVE posting an Adjusted EBITDA of $56.2 million, representing 48.7% of total revenue, although it faced a US GAAP net loss of $3.0 million. General and administrative expenses increased to $16.6 million, attributed to expanding staff to support global expansion efforts.
A key development for HIVE was its significant expansion in Paraguay, acquiring 300 MW of hydro-powered green-energy sites. The initial 100 MW at Yguazú was commissioned ahead of schedule, boosting its hashrate to 11.5 EH/s and increasing daily Bitcoin production to 5.5 BTC. The company aims to achieve a 25 EH/s hashrate by December 2025, marking a substantial increase from March 2025 levels.
Despite challenges in Q4, such as a GAAP net loss of $52.9 million due to non-cash factors, HIVE demonstrated strong operational metrics and a robust 22% return on invested capital over the past 12 months. With ongoing projects in Paraguay and growth in the HPC/AI division, HIVE remains well-positioned for continued success and sustainability-focused expansion.
