HIVE Digital Technologies produced 1,070 Bitcoin in the three months ended September 30, 2026, 49% more than the 718 it produced a year earlier, according to its regulatory filing. Mining revenue still fell 7.4% to $76 million because the average Bitcoin price over the quarter was $71,003, down from $114,382 a year earlier.
Electricity costs rose to $45.6 million from $37.9 million as HIVE expanded its global mining capacity. The company also recorded a $31.2 million noncash write-down on mining equipment, citing depressed mining economics.
HIVE's fiscal second-quarter revenue was $84.9 million, down 2.7% from a year earlier but above the $79.4 million consensus estimate listed by MarketBeat. MarketBeat reported an adjusted loss of 15 cents a share against expectations for a 16-cent loss. HIVE's GAAP net loss was $78.7 million, or 29 cents a share.
HIVE's HPC hosting revenue rose 71% to $8.8 million, 10.4% of quarterly revenue. The company said it anticipates spending up to $493 million over 36 months to expand HPC operations, including land, data center infrastructure and GPUs, and had spent $145.3 million toward that as of the filing. It plans to spend about $35 million converting its Toronto facility into a Tier-III data center and is targeting a 100-megawatt substation expansion at its Yguazú site in Paraguay during 2026.
HIVE's Nasdaq-listed shares closed the regular session up 1.7% at $1.81 on Monday and fell 1.7% to $1.78 in after-hours trading, according to Google Finance. The results follow American Bitcoin's report last week of weaker mining margins despite a treasury-driven quarterly profit, and Core Scientific's plan to leave mining entirely by year-end.