Profile
Hive provides AI models via API for content moderation, brand protection, and fraud detection, while also operating a large-scale Bitcoin mining and high-performance computing data center business.
Hive Digital Technologies Ltd. (formerly Hive Blockchain Technologies) is a publicly traded company (TSX: HIVE, Nasdaq: HIVE) that operates sustainable data center infrastructure for Bitcoin mining and high-performance computing (HPC). Founded in 2013 and headquartered in San Antonio, Texas, the company reported FY2026 total revenue of $297.8 million, up 158% year-over-year, driven by digital currency mining ($278.3 million) and HPC hosting services ($19.5 million). Bitcoin production reached 2,885 BTC for the fiscal year, a 104% increase, while installed hashrate stood at 25.1 EH/s as of March 31, 2026.
The HPC business, branded BUZZ HPC, generated $94 million more revenue than the prior year, reaching $19.5 million, with gross margins of approximately 40%. Despite revenue growth, the company posted a GAAP net loss of $148.4 million, largely due to $221.3 million in non-cash charges including $170.4 million in depreciation. Hive's AI models—offered via API under the Hive brand—cover content moderation (visual, text, audio, CSAM detection), brand protection (logo, celebrity, likeness detection), and fraud detection.
The company's customer base includes technology platforms, media companies, and risk management firms. Hive's dual identity as a Bitcoin miner and AI model provider creates a complex financial picture: the AI business is not separately reported, and the company's stock (Nasdaq: HIVE) trades at $3.77 as of June 5, 2026, down 13.73% on the day of its Q4 2026 earnings miss. The company's Q4 2026 revenue of $71.82 million missed analyst expectations of $79.99 million, and EPS of -$0.30 missed the -$0.22 consensus. Hive is not a venture-backed AI startup; it is a publicly listed infrastructure company whose AI models are a secondary product line within a larger Bitcoin mining and HPC hosting operation.
Who buys this
- Technology and digital platforms needing automated content moderation (visual, text, audio) for user-generated content
- Media and sports organizations requiring brand protection, logo detection, and celebrity recognition
- Risk and identity management firms seeking fraud detection and likeness detection tools
- Enterprises needing AI-powered search and identification across image, video, and audio datasets
- Customers of Hive's BUZZ HPC business: firms renting GPU compute capacity for AI workloads
Strengths and what to watch
Strengths
- Revenue growth: FY2026 total revenue of $297.8 million, up 158% year-over-year, with digital currency mining revenue up 164% and HPC revenue up 94%.
- Bitcoin production outpaced network difficulty: 2,885 BTC mined in FY2026, up 104% versus a ~42% increase in average network difficulty, indicating operational efficiency.
- HPC gross margin expansion: BUZZ HPC business achieved approximately 40% gross margins in FY2026, up from prior periods, driven by NVIDIA H200 GPU cluster deployment and strong demand on GPU marketplace.
Watch for
- GAAP net loss of $148.4 million in FY2026, driven by $221.3 million in non-cash charges including $170.4 million in depreciation, raising questions about cash flow sustainability.
- Q4 2026 earnings miss: revenue of $71.82 million missed consensus of $79.99 million, and EPS of -$0.30 missed the -$0.22 estimate, leading to a 13.73% same-day stock decline.
- Dependence on Bitcoin price and mining economics: digital currency mining revenue ($278.3 million) constitutes 93% of total revenue, making the company highly exposed to cryptocurrency market volatility.
Recent moves
Key Information
- Industry
- Query/Data Flow
- Founded
- 2013
- Headquarters
- San Antonio, Texas
Frequently Asked Questions
What is Hive Digital Technologies and what does it do?
Hive Digital Technologies is a publicly traded company that provides AI models via API for content moderation, brand protection, and fraud detection. It also operates sustainable data centers for Bitcoin mining and high-performance computing hosting, branded as BUZZ HPC.
How does Hive's AI content moderation API work?
Hive offers AI models via API that moderate visual, text, and audio content, including CSAM detection. It helps technology platforms and media companies automatically filter user-generated content, detect logos, celebrities, and likenesses, and identify fraudulent activities across image, video, and audio datasets.
What is Hive's financial performance in FY2026?
Hive reported FY2026 total revenue of $297.8 million, up 158% year-over-year, driven by digital currency mining ($278.3 million) and HPC hosting ($19.5 million). However, it posted a GAAP net loss of $148.4 million due to $221.3 million in non-cash charges, including $170.4 million in depreciation.
Why did Hive's stock drop after its Q4 2026 earnings report?
Hive's Q4 2026 revenue of $71.82 million missed analyst expectations of $79.99 million, and EPS of -$0.30 missed the -$0.22 consensus. This earnings miss led to a 13.73% same-day stock decline, with shares trading at $3.77 as of June 5, 2026.
What customer segments does Hive's AI and HPC business serve?
Hive serves technology platforms needing automated content moderation, media and sports organizations for brand protection, risk management firms for fraud detection, and enterprises requiring AI-powered search. Its BUZZ HPC business rents GPU compute capacity to firms running AI workloads.
How does Hive's Bitcoin mining operation compare to its AI business?
Hive's digital currency mining revenue of $278.3 million constitutes 93% of total revenue, making it the primary business. The AI models are a secondary product line within a larger Bitcoin mining and HPC hosting operation, and the AI business is not separately reported in financials.
Sources
- thehive.ai — Company website: product offerings (content moderation, brand protection, fraud detection), API platform, and solution categories.
- www.hivedigitaltechnologies.com — FY2026 annual revenue of $297.8 million, digital currency mining revenue of $278.3 million, HPC revenue of $19.5 million, Bitcoin production of 2,885 BTC, installed hashrate of 25.1 EH/s, GAAP net loss of $148.4 million, non-cash charges of $221.3 million, depreciation of $170.4 million.
- public.com — Q4 2026 EPS of -$0.30 vs. consensus -$0.22, earnings miss of 36.36%, historical EPS data for Q1-Q4 2026.
- www.marketbeat.com — Q4 2026 revenue of $71.82 million vs. consensus $79.99 million, EPS -$0.28 vs. consensus -$0.21, stock price of $3.77, same-day decline of 13.73%.