Bitcoin and AI Boost Hive's Earnings to New Heights

Hive Digital, a company that started with Bitcoin mining and now also builds data centers, just shared its earnings for the first three months of its fiscal year. They made a lot of money, thanks to both Bitcoin mining and their new AI-related services. In this quarter, Hive brought in $45. 6 million. Most of that came from mining Bitcoin, which made $40. 8 million. That's a big jump from the last quarter! They mined 406 Bitcoins, which is 34% more than before. Bitcoin's value going up also helped their earnings. But it's not just about mining. Hive's AI and high-performance computing (HPC) services, under the name Buzz HPC, made $4. 8 million. That's a 59. 8% increase from the last quarter. This shows that their AI business is growing fast. Hive's leaders, Frank Holmes and Aydin Kilic, have big plans. They want their AI business to make $100 million every year by next year. They're using advanced AI chips to make this happen. Even with good news, Hive's stock went down a bit after the earnings report. It's now around $2. 20. This year, the stock is down 23% overall. Hive isn't the only company doing well. Other Bitcoin miners like CleanSpark and MARA Holdings also reported big earnings lately. This is because Bitcoin's value is going up and mining is more profitable. Hive was one of the first to use its mining setup for AI and computing services. Now, other companies are doing the same. For example, TeraWulf just made a big deal with Fluidstack, backed by Google. Core Scientific, which almost went bankrupt, was saved by switching to AI. Hut 8 is another company expanding into AI. They've added over 1, 000 Nvidia H100 GPUs for cloud-based AI computing. They're working to make money from these AI data centers.