HIVE Digital CEO Says Company Worked On Scaling Bitcoin Mining Business In 2025-Here's What It Wants To Focus On This Year
HIVE Digital Technologies Ltd. (NASDAQ:HIVE) CEO Aydin Kilic said Tuesday that the company will prioritize expanding its high-performance computing (HPC) business in 2026.
HPC Revenue Scaling Goal
During HIVE’s third-quarter earnings call, Kilic said the firm focused on scaling Bitcoin (CRYPTO: BTC) mining operations in 2025, hitting 25 exahashes per second in global Bitcoin mining capacity and commissioning a 300 megawatt facility in Paraguay.
“This year, 2026, our focus is on scaling HPC’s annual recurring revenue from $20 million to $225 million,” the top executive said
To achieve this, the company plans to expand its cloud from 5,000 to 11,000 graphics processing units and to grow that revenue from $20 million to $140 million.
HIVE is capitalizing on its established infrastructure to tap into the growing demand for high-performance computing. Earlier this month, the company signed customer agreements worth approximately $30 million in contract value for its AI cloud strategy.
HIVE Reports Quarterly Loss
HIVE posted a record $93.1 million revenue for the third quarter, up 219% year-over-year and 7% from the previous quarter. The topline, however, fell short of analyst expectations of $96.97 million.
The company reported a loss of $0.38 per share, compared to earnings per share of $0.01 in the same quarter last year. It produced 884 BTC during the quarter, representing a 23% quarter over quarter increase.
Price Action: At the time of writing, BTC was exchanging hands at $67,682.75, down 1.04% in the last 24 hours, according to data from Benzinga Pro.
HIVE shares fell 0.01% in after-hours trading after closing 4.07% lower at $2.120 during Tuesday's regular trading session. Year-to-date, the stock has tumbled 17.51%
According to Benzinga’s Edge Stock Rankings, the stock shows a weak price trend across short-, medium-, and long-term horizons.
Photo courtesy: Shutterstock
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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