Overview
- Revenue reached a record $87.3 million, up 285% year over year, with adjusted EBITDA of $31.5 million and a GAAP net loss of $15.8 million driven by accelerated depreciation; the company reported no debt and $47 million in cash and digital assets.
- Bitcoin mining generated $82.1 million as production hit 717–718 BTC, with average hashrate at 16.2 EH/s during the quarter and recently about 25 EH/s, targeting 35 EH/s by Q4 2026.
- BUZZ HPC delivered $5.2 million in revenue with gross margins near 60% and maintains guidance to roughly a $140 million annualized run rate by late 2026.
- HIVE completed 300 MW of new capacity in Paraguay, expanded its hydro-powered footprint to 540 MW, and secured a Yguazú power purchase agreement toward 400 MW in the country.
- Shares rose about 7.5% to close at $3.56 as Rosenblatt reiterated a Buy with a $10 price target, and the BUZZ unit announced a Dell GPU deal to accelerate AI infrastructure deployment.