HIVE Digital Technologies

What HIVE Digital Technologies does

HIVE Digital Technologies Ltd. is a Canadian-domiciled public company (Nasdaq: HIVE, TSX: HIVE, BVC: HIVECO) that operates a dual-engine digital infrastructure platform: industrial-scale Bitcoin mining and renewable-powered Tier-I/Tier-III data center operations in Canada, Sweden, and Paraguay. Its foundational business is a fleet of data centers powered primarily by hydroelectric energy, with a planned renewable footprint of approximately 540 MW in 2026 (400 MW in Paraguay and 140 MW across Canada and Sweden). On top of this data center substrate, the company runs Bitcoin mining operations at approximately 25.1 EH/s of installed hashrate (~2-3% of the global Bitcoin network) and operates its wholly-owned BUZZ HPC subsidiary as an AI-native GPU-as-a-service platform using NVIDIA A40, H100/H200, Hopper, and Grace Blackwell (GB200 NVL72, GB300) accelerators. BUZZ HPC serves enterprise, government, and academic customers — most notably Bell Canada and Cohere under a US$220M / three-year sovereign AI contract for 2,304 Grace Blackwell GPUs at Merritt, BC — and is the platform for a planned 320 MW AI gigafactory in the Greater Toronto Area targeting 100,000+ GPUs by H2 2027.

The business model is hybrid. Mining revenue is generated by producing Bitcoin and selling it into the market (FY2026: US$278.3M, +164% YoY), while HPC revenue is generated through enterprise GPU cloud and managed AI infrastructure contracts with multi-year terms (FY2026: US$19.5M, +94% YoY). Total FY2026 revenue was US$297.8M (+158% YoY). Customer segments span Canadian government and enterprise (via Bell AI Fabric and Cohere), global channel partners (Dell Technologies, Hypertec, NVIDIA), academic researchers (Columbia University), and the open Bitcoin network. Capital formation has been active across instruments, including a 2021 CAD $115M bought-deal, 2023 CAD $28.75M raise, and a US$115M 0% exchangeable senior notes offering in April 2026, alongside ATM equity programs. The company is led by Executive Chairman Frank Holmes and President & CEO Aydin Kilic; its head office relocated from Vancouver, Canada to San Antonio, Texas in December 2024, and reporting transitioned from IFRS to U.S. GAAP. The strategic intent is to convert a low-cost renewable data center base into a multi-region sovereign AI infrastructure operator while continuing to monetize the underlying capacity through Bitcoin mining.

Name

HIVE Digital Technologies

Legal name

HIVE Digital Technologies Ltd.

Website

https://hivedigitaltechnologies.com

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

51–100 employees

Short description

HIVE Digital Technologies is a Canadian-domiciled public company operating renewable-powered Tier-I and Tier-III data centers across Canada, Sweden, and Paraguay. It runs a dual-engine platform combining industrial-scale Bitcoin mining with BUZZ HPC, an AI-native GPU cloud and sovereign AI infrastructure business serving enterprise, government, and academic customers.

Ownership category

akta.pro rank

Product category

AI and HPC Data Center Services

NAICS

Mining and Oil and Gas Field Machinery Manufacturing (33313), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518210)

SIC

Computer Storage Devices (3572), Mining Machinery & Equip (No Oil & Gas Field Mach & Equip) (3532)

akta.pro primary industry

Mining Software, Firmware & Monitoring Platforms (FSADAOAF)

akta.pro secondary industry

Digital Asset Custody & Wallet Infrastructure for Institutions (MPC/HSM, key mgmt, policy controls) (FSAPAIAE)

Keywords

• Bitcoin mining operations
• GPU cloud services
• Renewable data centers
• High performance computing
• Sovereign AI infrastructure

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Technology or R&D, Operations, Personnel, Supply Chain

Core offering

HIVE Digital Technologies builds and operates Tier-I and Tier-III data centers powered by clean, low-cost renewable energy (primarily hydroelectric) across Canada, Sweden, and Paraguay. The company runs a dual-engine model: industrial-scale Bitcoin mining operations (~25.1 EH/s installed hashrate) and BUZZ HPC, a GPU-as-a-service / AI cloud platform delivering sovereign AI and high-performance computing services to enterprise, government, and academic customers using NVIDIA GPU clusters.

Product overview

HIVE Digital Technologies operates a dual-engine platform-plus-modules architecture. The first engine is its foundational Tier-I and Tier-III renewable-powered data center infrastructure across Canada, Sweden, and Paraguay (the "HIVE Tier-I & Tier-III Data Centers" core product), which also supports industrial-scale "HIVE Bitcoin Mining Operations" with approximately 25.1 EH/s of installed hashrate. The second engine is "BUZZ HPC" (BUZZ High Performance Computing), a wholly-owned GPU-as-a-service sub-brand that adds AI-native cloud and HPC capability on top of the data center fleet, leveraging thousands of NVIDIA GPUs (A40, H100/H200, Hopper, GB200 NVL72/Grace Blackwell, GB300). BUZZ HPC products include the Paraguay BUZZ AI Cloud Platform, the planned 320 MW GTA AI Gigafactory in Ontario, the Grand Falls fiber-upgraded sovereign AI factory in New Brunswick, the Bell AI Fabric / Cohere sovereign AI GPU deployment in Merritt BC, and the 7.2 MW Toronto data center — collectively delivering sovereign, renewable-powered AI and HPC services for enterprise, government, and academic customers.

Differentiator

Problem solved

Functional benefit

Brands

• BUZZ HPC: Wholly-owned subsidiary operating HIVE's AI cloud and high-performance computing (HPC) data center business under the brand BUZZ High Performance Computing. Provides GPU-based accelerated AI computing services and sovereign AI cloud offerings.
• BUZZ AI Cloud

Products and services

• HIVE Tier-I & Tier-III Data Centers Geographically diversified Tier-I and Tier-III data center infrastructure powered by clean, low-cost renewable energy (primarily hydroelectric) across Canada, Sweden, and Paraguay. Renewable energy footprint expected to reach approximately 540 MW in 2026 (400 MW Paraguay, 140 MW Canada/Sweden), with 43.5 MW of operational data center capacity in Sweden and 300 MW operational in Paraguay as of 2025.
• BUZZ HPC (BUZZ High Performance Computing) Wholly-owned AI-native cloud / GPU-as-a-service platform running on HIVE's renewable-powered Tier-III data centers. Delivers sovereign AI cloud and HPC services to enterprise, government, and research customers using a fleet of thousands of next-generation NVIDIA GPUs (A40, H100/H200, Hopper, Grace Blackwell GB200/GB300). Powers Bell AI Fabric deployments, Cohere workloads, Dell Technologies deployments, and academic research workloads including Columbia University LLM pretraining.
• HIVE Bitcoin Mining Operations Industrial-scale Bitcoin mining operations powered primarily by hydroelectric renewable energy. Reached approximately 25.1 EH/s installed hashrate in FY2026, mining 2,885 Bitcoin and holding approximately 2-3% of the global Bitcoin network. Reported $278.3M digital currency mining revenue in FY2026 (+164% YoY).
• BUZZ AI Cloud Platform (Paraguay) Purpose-built AI cloud platform launched from HIVE's data center in Asunción, Paraguay, leveraging Paraguay's renewable hydroelectric energy. Supports large language model research workloads (including Columbia University LLM pretraining up to 1.4B parameters) and serves as the foundation for the planned 100 MW HPC/AI Gigafactory in Yguazú, with a 100 MW substation commissioning scheduled for September 2026 and a Tier-III data center targeted for H2 2027.

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability8 records

Recent moves11 records

Expansion highlights7 records

Direct peers

• Core Scientific: Core Scientific emerged from bankruptcy as one of the largest publicly listed Bitcoin miners and is undergoing a strategic transition into AI/HPC hosting, signing a major CoreWeave contract for GPU cloud capacity at its data centers. Directly comparable to HIVE on the dual mining-plus-AI hosting model, North American footprint, and public-company structure.
• Hut 8: Hut 8 is a publicly traded Bitcoin miner that has pivoted to HPC/AI hosting, including the U.S. Data Mining Co. joint venture with Coatue. Comparable to HIVE in running renewable-powered sites, owning infrastructure rather than pure ASIC exposure, and operating in Canada/U.S. with sovereign-aligned customers.
• Iris Energy: Iris Energy is a renewable-powered Bitcoin miner listed on Nasdaq and ASX that is expanding into AI/HPC GPU cloud services at its Australian and Texas sites. Closely comparable to HIVE on the renewable-energy-led, dual-engine mining + HPC narrative and direct competitor for sovereign/ESG-oriented enterprise AI customers.
• Bitfarms: Bitfarms is a publicly listed Bitcoin miner with operations in the Americas including Paraguay (where HIVE acquired its Yguazú site). Comparable on scale, geography (Canada, U.S., Latin America), and exposure to the same Bitcoin price and energy-cost dynamics driving HIVE's mining segment.
• Riot Platforms: Riot Platforms is one of the largest publicly listed Bitcoin miners in North America, operating large-scale infrastructure in Texas with potential HPC adjacency. Comparable to HIVE in publicly listed scale, Texas footprint, and infrastructure-led approach to Bitcoin mining economics.
• Marathon Digital Holdings: Marathon Digital is one of the largest pure-play publicly listed Bitcoin miners, with significant hashrate scale and recent diversification signals toward HPC/AI. Comparable to HIVE as a public-market proxy for Bitcoin mining infrastructure investment and is often benchmarked alongside HIVE for fleet efficiency and energy strategy.
• CleanSpark: CleanSpark is a U.S.-listed Bitcoin mining operator focused on efficient, low-cost energy and disciplined fleet management. Comparable to HIVE on the public-company mining infrastructure narrative and on operational efficiency benchmarks (energy cost per kWh, fleet utilization) that drive HIVE's value proposition.
• Cipher Mining: Cipher Mining is a U.S.-listed Bitcoin miner with sites in Texas and Ohio, focused on large-scale, low-cost power and infrastructure optionality for HPC conversion. Closely comparable to HIVE on infrastructure-led mining model, U.S. power markets exposure, and HPC-adjacent optionality narrative.

Emerging players

• CoreWeave: CoreWeave is a leading pure-play NVIDIA GPU cloud provider that has rapidly scaled into AI infrastructure with multi-billion-dollar contracts (including the Core Scientific anchor deal). Comparable to BUZZ HPC as a competitor for sovereign and enterprise AI workloads, and a reference point for the AI-cloud monetization model HIVE is pursuing.
• Nebius Group: Nebius (ex-Yandex data center business) is a publicly listed AI infrastructure specialist building large-scale GPU clusters across Europe and beyond. Comparable to BUZZ HPC as a competitor for sovereign AI demand in Europe, with overlapping customer profiles in foundation-model and enterprise AI workloads.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/hiveblockchain
• Facebookfacebook.com/HIVEDigitalTechnologies

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries5 records

Funding overview

Funding rounds12 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HIVE Digital Technologies