{"id":10551,"date":"2026-08-22T11:15:19","date_gmt":"2026-08-22T15:15:19","guid":{"rendered":"https:\/\/hostingdiscussion.com\/news\/?p=10551"},"modified":"2026-08-22T10:32:34","modified_gmt":"2026-08-22T14:32:34","slug":"hive-calls-itself-an-ai-cloud-company-but-bitcoin-still-pays-the-bills","status":"publish","type":"post","link":"https:\/\/hostingdiscussion.com\/news\/hive-calls-itself-an-ai-cloud-company-but-bitcoin-still-pays-the-bills\/","title":{"rendered":"HIVE calls itself an AI cloud company, but bitcoin still pays the bills"},"content":{"rendered":"<p dir=\"ltr\"><a href=\"https:\/\/www.hivedigitaltechnologies.com\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">HIVE Digital Technologies<\/a> wants to be known as an AI infrastructure company now. Its own numbers this quarter tell a different story about where the money is actually coming from.<\/p>\n<p dir=\"ltr\">Digital currency mining brought in $72.1 million for the quarter, up 76.6% year over year, and Bitcoin received as mining rewards jumped 147% as the company&#8217;s hashrate nearly tripled to 24 EH\/s. AI and high-performance computing revenue, by comparison, was $7.1 million. Bitcoin mining isn&#8217;t just still part of HIVE&#8217;s business. It&#8217;s still carrying nearly the entire thing.<\/p>\n<p dir=\"ltr\">That imbalance matters because of how HIVE is framing its future. The company reported approximately $110 million in active and contracted <a href=\"https:\/\/hostingdiscussion.com\/news\/hive-expands-ai-cloud-footprint-with-new-gpu-data-center-in-sweden\/\">GPU Cloud<\/a> annual run-rate revenue this week, a figure meant to signal AI momentum to investors. But only about $35 million of that is actually generating revenue right now, from roughly 5,500 GPUs. The other $75 million rests almost entirely on one contract, a three-year, roughly $225 million sovereign AI deal with Bell AI Fabric supporting <a href=\"https:\/\/hostingdiscussion.com\/news\/canada-gets-sovereign-ai-cluster-as-buzz-hpc-bell-cohere-join-forces\/\">Cohere<\/a>, tied to 2,304 Nvidia GB200 GPUs that still haven&#8217;t fully come online.<\/p>\n<p dir=\"ltr\"><a href=\"https:\/\/hostingdiscussion.com\/news\/hivelocity-splits-fintech-infrastructure-into-three-tiers-to-cut-cloud-waste\/\">HIVE<\/a> is targeting $200 million in GPU Cloud run-rate revenue by the end of 2026, and management points to a signed letter of intent for a Sweden colocation deal, potentially worth another $45 million, as evidence the pipeline keeps growing.<\/p>\n<p dir=\"ltr\">Meanwhile, the AI segment that is already running has genuinely strong growth: <a href=\"https:\/\/hostingdiscussion.com\/news\/akamai-buzz-hpc-land-major-gpu-cloud-deals\/\">BUZZ HPC<\/a> revenue rose 52.1% sequentially to that $7.1 million figure, powered by a new Nvidia B200 cluster in Manitoba. It&#8217;s real growth. It&#8217;s just still small next to bitcoin.<\/p>\n<p dir=\"ltr\">Total quarterly revenue reached $79.1 million, up 73.5% year over year, and adjusted EBITDA came in positive at $13.4 million. The GAAP picture looked worse, with a $142.9 million net loss driven largely by an $84.7 million provision tied to a contested Swedish VAT dispute.<\/p>\n<p dir=\"ltr\">&#8220;This first quarter of fiscal 2027 demonstrated the increasing scale and underlying operating strength of HIVE&#8217;s business,&#8221; said CFO Darcy Daubaras, citing the company&#8217;s $208 million cash position as it funds its next phase of growth.<\/p>\n<p dir=\"ltr\">The pivot toward AI is clearly underway. Whether HIVE becomes an AI infrastructure company or stays a bitcoin miner that also sells GPU capacity is still, for now, mostly a question of which numbers grow faster.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>HIVE Digital Technologies wants to be known as an AI infrastructure company now. Its own numbers this quarter tell a different story about where the money is actually coming from. Digital currency mining brought in $72.1 million for the quarter, up 76.6% year over year, and Bitcoin received as mining rewards jumped 147% as the [&hellip;]<\/p>\n","protected":false},"author":20624,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[1927,7831,7830,7089,2223,5432],"class_list":["post-10551","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-ai-cloud","tag-bell-ai-fabric","tag-bitcoin-mining","tag-cohere","tag-gpu-cloud","tag-hive-digital-technologies"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>HIVE calls itself an AI cloud company, but bitcoin still pays the bills - Web Hosting News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/hostingdiscussion.com\/news\/hive-calls-itself-an-ai-cloud-company-but-bitcoin-still-pays-the-bills\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HIVE calls itself an AI cloud company, but bitcoin still pays the bills - Web Hosting News\" \/>\n<meta property=\"og:description\" content=\"HIVE Digital Technologies wants to be known as an AI infrastructure company now. Its own numbers this quarter tell a different story about where the money is actually coming from. Digital currency mining brought in $72.1 million for the quarter, up 76.6% year over year, and Bitcoin received as mining rewards jumped 147% as the [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/hostingdiscussion.com\/news\/hive-calls-itself-an-ai-cloud-company-but-bitcoin-still-pays-the-bills\/\" \/>\n<meta property=\"og:site_name\" content=\"Web Hosting News\" \/>\n<meta property=\"article:published_time\" content=\"2026-08-22T15:15:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-08-22T14:32:34+00:00\" \/>\n<meta name=\"author\" content=\"Justine Juyad\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Justine Juyad\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/hostingdiscussion.com\/news\/hive-calls-itself-an-ai-cloud-company-but-bitcoin-still-pays-the-bills\/\",\"url\":\"https:\/\/hostingdiscussion.com\/news\/hive-calls-itself-an-ai-cloud-company-but-bitcoin-still-pays-the-bills\/\",\"name\":\"HIVE calls itself an AI cloud company, but bitcoin still pays the bills - Web Hosting News\",\"isPartOf\":{\"@id\":\"https:\/\/hostingdiscussion.com\/news\/#website\"},\"datePublished\":\"2026-08-22T15:15:19+00:00\",\"dateModified\":\"2026-08-22T14:32:34+00:00\",\"author\":{\"@id\":\"https:\/\/hostingdiscussion.com\/news\/#\/schema\/person\/3a1732732b90f8c57c2a0ec68d3c49e3\"},\"breadcrumb\":{\"@id\":\"https:\/\/hostingdiscussion.com\/news\/hive-calls-itself-an-ai-cloud-company-but-bitcoin-still-pays-the-bills\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/hostingdiscussion.com\/news\/hive-calls-itself-an-ai-cloud-company-but-bitcoin-still-pays-the-bills\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/hostingdiscussion.com\/news\/hive-calls-itself-an-ai-cloud-company-but-bitcoin-still-pays-the-bills\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/hostingdiscussion.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"HIVE calls itself an AI cloud company, but bitcoin still pays the bills\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/hostingdiscussion.com\/news\/#website\",\"url\":\"https:\/\/hostingdiscussion.com\/news\/\",\"name\":\"Web Hosting News\",\"description\":\"Cloud and web hosting industry daily news\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/hostingdiscussion.com\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/hostingdiscussion.com\/news\/#\/schema\/person\/3a1732732b90f8c57c2a0ec68d3c49e3\",\"name\":\"Justine Juyad\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/hostingdiscussion.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/96df33d01870f85226adf8492251fbefe00bc349b10bb7679b094f3fa086999c?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/96df33d01870f85226adf8492251fbefe00bc349b10bb7679b094f3fa086999c?s=96&d=mm&r=g\",\"caption\":\"Justine Juyad\"},\"description\":\"HostingDiscussion.com senior reporter\",\"sameAs\":[\"https:\/\/hostingdiscussion.com\/news\/\"],\"url\":\"https:\/\/hostingdiscussion.com\/news\/author\/justine-juyad\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"HIVE calls itself an AI cloud company, but bitcoin still pays the bills - Web Hosting News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/hostingdiscussion.com\/news\/hive-calls-itself-an-ai-cloud-company-but-bitcoin-still-pays-the-bills\/","og_locale":"en_US","og_type":"article","og_title":"HIVE calls itself an AI cloud company, but bitcoin still pays the bills - Web Hosting News","og_description":"HIVE Digital Technologies wants to be known as an AI infrastructure company now. 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