Canada · Delayed Price · Currency is CAD HIVE Digital Technologies Earnings Call Transcripts
Fiscal Year 2027
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Revenue rose 73% year-over-year to $79.1 million, with strong growth in both Bitcoin mining and AI/HPC segments. Adjusted EBITDA returned to positive, and $180 million in contracted AI/HPC revenue positions the company to exceed its $200 million ARR target by year-end.
Fiscal Year 2026
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Revenue reached CAD 300 million for the year, driven by strong growth in both Bitcoin mining and HPC/AI segments. Major investments in GPU cloud and the Toronto Gigafactory position the company for significant ARR expansion, with a CAD 5 billion+ enterprise value outlook.
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A capital-light strategy is driving rapid AI cloud growth through partnerships, lease-to-own GPU models, and data center conversions. Major deals and expansions in Canada and Paraguay are set to boost ARR from $35 million to over $200 million, with strong demand and favorable economics supporting further growth.
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Record revenue of $93M and 879 Bitcoin mined, but a $91M net loss due to non-cash charges. HPC/AI cloud ARR surged 70% to $35M, with ambitious targets for $225M ARR and 11,000 GPUs by year-end. Conservative capital strategy and sector-leading efficiency position the company for growth.
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Record Q2 revenue of $87.3M was driven by Bitcoin mining and AI cloud growth, with gross margin rising to 49% and adjusted EBITDA at $31.5M. Expansion in Paraguay and strategic GPU investments support a $750M ARR target for 2026, while disciplined capital allocation and vendor financing underpin growth.
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Record quarterly revenue of $45.6M and net income of $35M driven by rapid Paraguay expansion and strong Bitcoin mining margins. Hash rate scaled from 6 EH/s to 15 EH/s, targeting 25 EH/s by Thanksgiving, with all ASICs fully funded. BUZZ HPC and AI business achieved $20M ARR and targets $100M for 2026.
Fiscal Year 2025
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Revenue reached $115.3M with $56.2M adjusted EBITDA, driven by scaling to 11 EH/s and strong HPC growth. Fully funded for 25 EH/s by fall 2025, with $400M+ projected annualized revenue at $100K Bitcoin. Margins impacted by halving, but efficiency and liquidity remain strong.
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Revenue reached $29.2M with a 21% gross margin and $17.3M adjusted EBITDA, driven by sector-leading ROIC and disciplined capital deployment. Expansion in Paraguay and AI/HPC growth position the company for significant upside, targeting 25 EH/s by September 2025.
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Revenue held steady year-over-year at $22.6 million, but gross margin and EBITDA declined due to post-halving economics and rising Bitcoin difficulty. Major Paraguay expansion and new ASIC purchases aim to double hash rate and boost margins, while the AI/HPC segment targets rapid growth.
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Revenue rose year-over-year to $30.2M, with $14.9M adjusted EBITDA and $3.3M net income, despite the Bitcoin halving. Expansion in Paraguay aims to double hash rate, while the AI segment hit $10M ARR and targets $100M next year.
Fiscal Year 2024
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Achieved strong revenue and margin growth in Q4 FY2024, driven by higher Bitcoin prices and operational efficiency. Maintained profitability post-halving, expanded AI/HPC business, and increased Bitcoin holdings, all while minimizing dilution and maintaining industry-leading value metrics.