HIVE reports more than $1 million in daily revenue as AI cloud expands

  • HIVE reported combined daily revenue above $1 million from Bitcoin mining and GPU cloud.
  • GPU cloud generated about $100,000 daily, while mining averaged roughly 12 Bitcoin.
  • HIVE closed more than $600 million in year-to-date GPU-cloud total contract value.

HIVE Digital Technologies said its Bitcoin-mining and GPU-cloud businesses generated more than $1 million in combined average daily revenue from Aug. 21 through Sept. 10. GPU cloud (computing capacity rented through graphics processors) contributed about $100,000 a day, showing that HIVE's AI infrastructure business is generating operating revenue but still represented less than roughly 10% of the total. Bitcoin mining remained the main financial engine, with HIVE mining an average of about 12 Bitcoin per day, equivalent to roughly 2% of global network production. The figures are preliminary, unaudited management estimates and depend on Bitcoin prices, network difficulty and operating conditions. HIVE also said it had closed more than $600 million in GPU-cloud total contract value year to date, including signed customer agreements and letters of intent, while warning that total contract value is not recognized revenue and does not guarantee future revenue. The disclosure follows August reports of a $350 million AI cloud agreement and financing and execution demands tied to a related $185 million GPU buildout. HIVE is winding down mining at certain facilities that contributed less than 5% of its global daily revenue in August and is evaluating their conversion to high-performance computing, although it cautioned that the plans may not proceed as expected. The figures show an operating transition in which AI cloud is producing revenue while mining continues to finance the shift.

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