HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE) finished its fiscal year strong, reporting $115.3 million in revenue and $56.2 million in adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), while expanding its presence in Bitcoin mining and AI-driven high-performance computing (HPC) hosting services.
The company mined 1,414 Bitcoin during the year and more than tripled its AI GPU cloud revenue, it said in a statement on Thursday.
Digital currency mining contributed revenue of $105.2 million for the fiscal year ending March 31, 2025. The impact of the April 2024 Bitcoin halving and increased hash rate difficulty were mostly offset by higher Bitcoin prices and an improved mining hash rate, with HIVE boosting its mining efficiency from 4.5 EH/s to 6.3 EH/s during the year.
The company exited the fiscal year holding digital currency assets valued at $181.1 million, including 2,201 Bitcoin.
HPC generated $10.1 million in revenue, up from $3.4 million for the previous year, driven by a surge in demand for AI compute services.
HIVE’s BUZZ HPC division expanded its GPU fleet to over 5,000 units, capitalizing on strong market interest in AI and machine learning workloads.
The fourth quarter contributed $31.2 million in revenue. Digital currency mining brought in $28.1 million, up 5.5% from the previous quarter, and BUZZ HPC recorded a record $3 million, up 18.5% sequentially.
Frank Holmes, HIVE executive chairman, said the company continued its track record of disciplined growth during fiscal 2025.
“We expanded our operational hashrate from approximately 4.5 EH/s in March 31, 2024 to 6.3 EH/s in March 31 2025—a 40% increase achieved even as the post-halving landscape compressed industry economics,” Holmes said.
“We are extremely excited about the remainder of this year as we scale our Bitcoin mining business to the company’s goal of 25 EH/s by December 31, 2025 and continue the strong growth in our Buzz HPC business.”
Aydin Kilic, HIVE CEO, highlighted the company’s efforts at its sites in Paraguay as a key growth driver.
“The foundation we set in fiscal 2025 with the acquisition of our 100 MW site in Valenzuela, Paraguay and the 200 MW site in Yguazú, Paraguay has set the stage for what management believes will be the most transformative chapter in HIVE’s history,” Kilic said.
“Since the end of fiscal 2025, HIVE commissioned the first 100 MW at Yguazú two weeks ahead of its projected schedule, which nearly doubled our hashrate to 11.5 EH/s as of today, with 5.5 Bitcoin being produced daily.”
