Hive Digital Technologies is strategically shifting its focus from cryptocurrency mining to AI-driven high-performance computing (HPC), targeting $100 million in annual revenue from these services by 2026. This transition leverages Nvidia’s H100 GPUs and future Blackwell series hardware while maintaining Bitcoin mining as a core operation.
Operational efficiency in mining has been enhanced to 17.5 joules per terahash (J/TH), supplemented by a new Toronto facility positioned near AI talent hubs to support HPC growth. The expansion aims to capitalize on soaring demand for computational power in artificial intelligence applications.
Despite a 27% year-to-date stock decline, Hive shares recently rebounded 31%, with analysts expressing optimism tied to HPC progress and energy infrastructure investments in Paraguay. The company remains committed to Bitcoin mining, planning to increase daily production to 12 BTC by late 2025 while exploring M&A opportunities amid industry consolidation.
Challenges including electricity access limitations and land scarcity for data center expansion persist. However, Hive’s integrated strategy seeks to balance efficiency and growth across both Bitcoin mining and emerging HPC divisions.