HIVE’s preliminary data covering Aug. 21 to Sept. 10 puts GPU cloud revenue at roughly $100,000 per day, while the potential for Swedish reuse is still being assessed.
HIVE Digital Technologies said its Bitcoin-mining and GPU-cloud operations brought in more than $1 million in combined average daily revenue between Aug. 21 and Sept. 10, highlighting the current contribution of its AI-focused expansion.
GPU cloud operations generated roughly $100,000 per day during the period, according to HIVE’s Sept. 10 update. This shows that the AI business is already producing operating revenue, although it represented less than about 10% of the reported total. Bitcoin mining contributed more than 9
Mining Still Drives the Transition
HIVE reported that it mined an average of around 12 Bitcoin per day during the period, representing about 2% of global network output. The revenue figures are preliminary and unaudited management estimates, with the results being linked to Bitcoin prices, network difficulty and prevailing operating conditio
The dollar value of mining production can fluctuate alongside Bitcoin’s price and changing network economics. GPU cloud services give HIVE an operating position in AI infrastructure, while Bitcoin mining still accounted for most of its reported revenue during the period.
HIVE said it had secured more than $600 million in GPU-cloud total contract value so far this year, including signed customer agreements and letters of intent. The company cautioned that total contract value is not recorded as revenue and does not guarantee future income.
That distinction comes after August reports of a $350 million AI cloud agreement and the financing and execution requirements tied to the related $185 million GPU buildout. The latest disclosure confirms that the AI business is generating revenue, but its much larger commercial pipeline still relies on delivery over time.
HIVE said the operations accounted for less than 5% of its global daily revenue in August, while the company plans to gradually wind down mining at those facilities.
HIVE is assessing whether the sites could be converted for high-performance computing, the data-heavy infrastructure that supports services such as AI. The company has not confirmed that the conversion is complete, and its release warned that the wind-down and repurposing plans may not go ahead as expected.
For now, the operating figures point to a two-track transition. AI cloud services have started generating revenue, while Bitcoin mining continues to serve as the company’s main financial driver.
The next challenge is whether HIVE can convert more of its signed agreements and letters of intent, together with its existing infrastructure, into recognized GPU-cloud revenue while maintaining the mining cash flow supporting the transition.
