HIVE says its AI processors earn 24 times more per hour than its bitcoin mining rigs

Frank Holmes, executive chairman of the Canadian company HIVE, said the firm's AI graphics processors generate far more revenue per hour than its bitcoin mining rigs. The news was reported on Saturday 1 August 2026.

According to the company's 2026 financial report, total revenue rose 158 percent to $297.8 million. Its Nvidia clusters earn about $2.90 per hour of operation, compared with $0.12 for bitcoin mining machines. Over the same period HIVE raised its hashrate 290 percent to 22.2 exahashes per second and mined 2,885 bitcoin.

HIVE is building a 320 megawatt data centre in Toronto with capacity for 100,000 graphics processors, projected to generate $360 million in annual recurring revenue once fully operational in 2027. Pressure on mining margins from rising network difficulty has pushed rivals such as MARA and Hut 8 toward AI compute contracts as well.