Earnings Calls

Last Earnings Call

Fiscal Period
Q1 2027
Call Date
Aug 17, 2026
AI Summary
Q1 2027

Revenue: HIVE reported $79.1 million of revenue, up 73% year over year and 10% sequentially, with Bitcoin mining still the majority of sales but HPC and AI growing quickly.

Profitability: Gross operating margin rose to $24.2 million and adjusted EBITDA returned to positive territory at $13.4 million, even though reported GAAP net loss was $142.9 million because of noncash items.

AI momentum: Management announced a new 5-year GPU cloud deal worth $350 million in total contract value, bringing active and contracted GPU cloud revenue to $180 million and putting the company ahead of its $200 million ARR goal.

Liquidity: Cash finished the quarter at $208 million, helped by the $130 million convertible note financing and ATM proceeds, giving HIVE more flexibility to fund growth.

Sweden dispute: Results were heavily distorted by an $84.7 million provision tied to the long-running Swedish VAT matter, which management said it is appealing and does not plan to pay.

Outlook: Management said demand for GPU cloud and colocation remains very strong, with more deals in the pipeline and a longer-term vision for roughly $700 million of ARR from AI cloud and colocation combined.

Key Financials
Revenue
$79.1 million
Gross operating margin
$24.2 million
Earnings from operations
$15.2 million
Adjusted EBITDA
$13.4 million
Net loss
$142.9 million
Basic loss per share
$0.54
Cash
$208 million
Current assets
$280 million
Current liabilities
$143 million
Digital currencies
$11.2 million
Investments
$10.9 million
Receivables and prepaids
$18.9 million
Bitcoin held in treasury
190 Bitcoin
Revenue from Bitcoin mining
$72.1 million
Revenue from HPC and AI
$7.0 million
HPC annualized revenue
$28 million ARR
Active and contracted GPU cloud revenue
$180 million ARR
New GPU cloud contract value
$350 million
New GPU cloud ARR
$70 million ARR
GPU cloud total contract value signed this year
$600 million
Boden HPC colo ARR
$45 million ARR
Total revenue annualized run rate
about $850,000 a day
Operating costs
about $63 million for the quarter
Swedish tax provision
$84.7 million
Depreciation
$53.7 million
Share-based compensation
$7.1 million
Common shares outstanding
approximately 271 million
Warrants
approximately 3 million
Options
2.6 million
Restricted share units
16.7 million
Bitcoin equivalent produced
approximately 1,004 Bitcoin equivalent
Quarterly revenue outlook
$200 million ARR

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