Hive Digital Scales HPC AI Services and Bitcoin Mining
Hive Digital is expanding its high-performance computing (HPC) and AI services while scaling its Bitcoin mining operations. The firm aims to grow HPC revenue from $20 million today to $100 million by 2026, deploying Nvidia H100 GPUs and planning a Blackwell upgrade to achieve energy efficiency as low as 17.5 J/TH. To support AI workloads, Hive acquired a 7.2 MW Toronto facility near Pearson Airport and is tapping local university talent, complementing its low-cost, hydro-powered mining in Paraguay. Despite Bitcoin’s downturn, Hive’s balanced model has maintained positive gross margins, doubling mining output to 6+ BTC per day and targeting 12 BTC/day (~3% of network) by late 2025. Shares trade at $2.23 (market cap $475 million), up 31% in the last month, with buy ratings from H.C. Wainwright, Canaccord Genuity, and Rosenblatt. As AI computing and mining M&A heats up, Hive’s combined HPC and mining strategy could bolster market resilience and drive Bitcoin dynamics.
Bullish
Hive Digital’s strategic shift into HPC and AI services alongside its core Bitcoin mining operation strengthens both revenue diversification and mining efficiency. Short term, the expanded GPU capacity and positive analyst ratings could boost investor confidence in Bitcoin miners, potentially lifting BTC prices. In the long run, sustained energy-efficient AI workloads, robust gross margins, and a clear path to $100 million in HPC revenue by 2026 reduce operational risk and enhance Bitcoin supply stability. These factors collectively point to a bullish outlook for Bitcoin.