CryptoSlate
HIVE Digital Technologies reported combined average daily revenue above $1 million from August 21 through September 10, with Bitcoin mining supplying more than 90% of the total and its GPU-cloud business generating roughly $100,000 a day. The disclosure quantifies how much of HIVE's reported revenue is still tied to BTC production: the company mined about 12 Bitcoin per day over the period, equal to roughly 2% of global network hashrate. The GPU-cloud number is the first public revenue figure from HIVE's AI pivot, even if it remains a single-digit share of the company's top line.
Why it matters
HIVE has been one of the public miners most aggressive about pivoting compute capacity toward AI and high-performance computing, and the early revenue print matters because it confirms the AI business is operating, not just announced. The company said it has now closed more than $600 million in GPU-cloud total contract value year to date, combining signed customer agreements and letters of intent, including a $350 million AI cloud agreement reported in August and the $185 million GPU buildout tied to it. The distinction is critical: TCV is not recognized revenue and HIVE itself warns it does not guarantee future income. What the new numbers show is a two-speed transition in which AI cloud has become a revenue-producing line item while Bitcoin mining remains the financial engine carrying the shift.
Market impact
The split between mining and AI matters for how investors value the next leg of the pivot. Mining delivered more than nine-tenths of daily revenue over the 20-day window even as HIVE wound down a pair of sites that had contributed less than 5% of global daily revenue in August, with management evaluating whether to repurpose them for HPC workloads. The dollar value of mining output will continue to swing with Bitcoin's price and network difficulty, while GPU-cloud revenue scales with delivery against the existing pipeline.
Frequently asked questions
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How much of HIVE's daily revenue still comes from Bitcoin mining?
More than 90% of HIVE's combined daily revenue from Aug. 21 through Sept. 10 came from Bitcoin mining, with GPU-cloud services contributing roughly $100,000 a day out of over $1 million total.
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How much Bitcoin did HIVE mine per day during the period?
HIVE mined an average of about 12 Bitcoin per day from Aug. 21 through Sept. 10, equal to roughly 2% of global network production.
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What is HIVE's $600 million GPU-cloud total contract value?
HIVE said it has closed more than $600 million in GPU-cloud total contract value year to date, combining signed customer agreements and letters of intent, including a $350 million AI cloud agreement disclosed in August and a $185 million GPU buildout tied to it.
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Is HIVE's total contract value the same as recognized revenue?
No. Total contract value combines signed agreements with letters of intent and is not recognized revenue. HIVE explicitly warned that TCV does not guarantee future revenue.
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What is HIVE doing with its legacy mining sites?
HIVE is winding down a pair of mining sites that contributed less than 5% of global daily revenue in August and is evaluating whether to repurpose them for high-performance computing workloads tied to its AI cloud business.
Benjamin Cowen
TheBlock
WatcherGuru
CoinTelegraph
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