Bitcoin Miner Hive’s Stock Rises After Record Q2 Revenue, AI Deal

Publicly traded Bitcoin Shares of mining company Hive Digital Technologies rose on Monday after announcing record fourth-quarter revenue, along with a deal with computer maker Dell to support the Hive subsidiary’s expanding artificial intelligence ambitions.

Hive announced fiscal year results for the second quarter ended September 30, posting record revenue of $87.3 million — a significant 285% increase year over year, and a 91% increase compared to the previous quarter. The company reported adjusted EBITDA of $31.5 million, indicating strong results across its Bitcoin mining and high-performance computing (HPC) segments.

Hive stock was on the rise Monday, jumping more than 7.5% to Closing price is $3.56. Hive bucked the daily trend, which saw several major cryptocurrency stocks, including Circle (CRCL) fall by more than 6% and Coinbase (COIN) by about 7%.

Despite the daily rise, HIVE has fallen more than 37% over the past month, mirroring losses suffered by other prominent cryptocurrency stocks amid falling asset prices in recent weeks.

Hive rose even as Bitcoin continued It will fall on Monday, with the price of the top crypto assets falling below $92,000 For the first time since April. Bitcoin has it now erased All of its gains are in 2025 and it is down 27% since setting a new all-time high above $126,000 in early October.

Hive’s Bitcoin mining revenue reached $82.1 million, driven by an 86% QoQ increase in average hash rate to 16.2 exahash/s. HIVE mined 717 Bitcoins during the quarter, a 77% increase from the first quarter despite increased network difficulty.

Meanwhile, Hive Buzz’s HPC division generated record revenues of $5.2 million, up 175% year-over-year. Gross operating margins improved significantly to 49%, although a GAAP net loss of $15.8 million was due to an accelerated decline in the value of Hive’s bitcoin mining rigs.

Hive said it has completed the addition of 300 MW of new capacity in Paraguay and recently achieved an operational hashrate of 25 exahash/s.

The company now operates a 540MW global hydropower data centre, with a secure path to 400MW in Paraguay through PPAs – potentially rising to 35MW/s by Q4 2026.

Along with the earnings, Hive’s Buzz subsidiary announced a deal with Dell Technologies to deploy 504 of the manufacturer’s latest generation GPUs through liquid-cooled servers in the Bell AI Fabric data center.

The company is targeting a fleet of more than 6,000 new GPUs by the end of 2026, on top of the 5,000 GPUs already in operation.

Its expansion is expected to generate approximately $140 million in annual HPC revenue by Q4 2026 with gross margins of approximately 80%.

Many Bitcoin miners have seized the opportunity for high-performance computing amid the AI ​​boom, and at least one company, Bitfarms, recently said it It will “wind down” its cryptocurrency business completely. But Hive said it believes it has an advantage over miners now entering the HPC space.

“We know a lot more about Bitcoin mining, and we also know more in depth and breadth than other Bitcoin miners getting into the AI ​​space,” Hive CEO Frank Holmes said on Monday’s earnings call. “We’ve been doing this for three years. I think we’re very successful. It’s much more complicated.”