HIVE Bitcoin reserves decline, but revenue reaches record levels

Canadian mining company HIVE Digital Technologies announced that its Bitcoin reserves decreased by 331 BTC in the last quarter. Despite this, the company reported a sharp increase in annual revenue from Bitcoin mining and high-performance computing (HPC) services. According to a financial report released on Monday, the company holds 150 BTC, whereas it held 481 BTC at the end of the previous quarter. This is reported by Cointelegraph.com .

The reduction of 331 BTC is equivalent to approximately $23 million at current prices. Although HIVE has not explicitly confirmed selling these assets, the price of Bitcoin has fallen by nearly 21% since the beginning of the year. During the 2026 fiscal year, the company mined 2,885 BTC and increased its total revenue by 158% year-over-year to $297.8 million. This growth is primarily attributed to the expansion of mining capacity and success in the HPC segment.

The decline in Bitcoin reserves illustrates how public mining companies are balancing asset accumulation with expansion costs. HIVE is currently diversifying into artificial intelligence (AI) infrastructure while investing in energy-intensive mining sites. The company's revenue from digital currency mining totaled $278.3 million, while HPC services accounted for $19.5 million.

Despite the revenue growth, operational and maintenance costs also rose significantly. As a result of expanding its data center network, HIVE's depreciation costs reached $170.4 million, nearly triple the previous year's figure. Noting the growing demand for AI services, the company plans to increase the annual revenue of its HPC division to $35 million using NVIDIA GPU clusters.

As part of its future plans, HIVE aims to implement a 320-megawatt AI data center project in the Toronto area. This center is expected to house over 100,000 GPU units. Such expansion reflects a general trend among Bitcoin miners: as mining economics become more complex, companies are seeking new revenue streams such as AI and cloud computing.