HIVE Digital Technologies reduced its Bitcoin holdings to 150 BTC during the first fiscal quarter of 2026, a drop of 331 BTC from the 481 BTC recorded at the close of the previous quarter. The company did not explicitly confirm the sale of the assets, although the reduction represents approximately $23 million at the current price. Bitcoin has accumulated a decline of around 21% so far this year.
Despite the cut in its reserves, HIVE reported annual revenues of $297.8 million, an increase of 158% compared to $115.3 million the prior year. Cryptocurrency mining contributed $278.3 million, while its high-performance computing division added approximately $19.5 million, nearly double the figure from the previous report. During the fiscal year, the company mined a total of 2,885 BTC.
Revenue growth was achieved under intense pressure. Depreciation expenses nearly tripled year-over-year, reaching $170.4 million. At the same time, the company advanced its artificial intelligence project, where contracted recurring revenues in its HPC division reached $35 million annually, and a 320-megawatt data center project in the greater Toronto area was developed, with capacity to host more than 100,000 GPUs.
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