HIVE Executive Chairman Frank Holmes said the firm’s AI compute GPUs generate far more revenue per hour than its bitcoin mining rigs. A 504-GPU Nvidia B200 cluster at Bell Canada’s AI fabric in Manitoba earns roughly $2.90 per GPU-hour, compared with roughly $0.12 per hour from bitcoin mining rigs. HIVE’s fiscal 2026 revenue surged 158% to $297.8 million, with digital currency revenue up 164%. Average hashrate rose 290% to 22.2 EH/s, giving the company roughly 3% of the bitcoin network’s hashrate. HIVE mined 2,885 BTC, more than double the 1,414 BTC mined in fiscal 2025. The BUZZ HPC division generated $19.5 million in revenue, up 94% from $10 million the prior year. HIVE made a $70 million bet on Nvidia chips roughly three years ago. Chardan Capital initiated coverage on July 27 with a “Buy” rating and a $7.50 price target. HIVE signed a roughly $220 million GPU cloud agreement with Bell and AI firm Cohere, and raised $75 million through a note offering for AI infrastructure. The company is directing more infrastructure spend toward the higher-margin AI business while keeping mining operational, with a 320 MW Toronto AI hub coming next.