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Revenue surged 73% year over year to $79.1 million, driven primarily by Bitcoin mining, while adjusted EBITDA improved to $13.4 million. However, HIVE reported a $142.9 million GAAP net loss, largely due to an $84.7 million non-cash Swedish VAT provision and $53.7 million in depreciation.
HIVE expanded its GPU cloud pipeline with a five-year, $360 million contract for 2,088 NVIDIA GB300 GPUs, bringing active and contracted annualized GPU revenue to $180 million. The company continues targeting $200 million in GPU-cloud annual recurring revenue by fiscal year-end.
The company ended the quarter with $208 million in cash and is advancing data-center projects in Sweden, Canada and Paraguay, while continuing to contest the Swedish VAT **** sment. Management expects HPC to reach roughly 40% of revenue after contracted GPU deployments come online.
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Revenue surged 73% year over year to $79.1 million, driven primarily by Bitcoin mining, while adjusted EBITDA improved to $13.4 million. However, HIVE reported a $142.9 million GAAP net loss, largely due to an $84.7 million non-cash Swedish VAT provision and $53.7 million in depreciation.
HIVE expanded its GPU cloud pipeline with a five-year, $360 million contract for 2,088 NVIDIA GB300 GPUs, bringing active and contracted annualized GPU revenue to $180 million. The company continues targeting $200 million in GPU-cloud annual recurring revenue by fiscal year-end.
The company ended the quarter with $208 million in cash and is advancing data-center projects in Sweden, Canada and Paraguay, while continuing to contest the Swedish VAT **** sment. Management expects HPC to reach roughly 40% of revenue after contracted GPU deployments come online.
AI Data Centers Are Splitting Winners From Pretenders in Infrastructure Stocks
#swedish
1 day ago
