HIVE Digital Technologies produced 49% more Bitcoin in the quarter ended Sept. 30, 2026, but lower average Bitcoin prices pushed its mining revenue down 7.4% to $76 million, according to a regulatory filing cited by Cointelegraph.
The company mined 1,070 BTC during the period, compared with 718 BTC a year earlier. The average Bitcoin price fell to $71,003 from $114,382 in the prior-year quarter, offsetting the production increase.
Electricity costs and equipment write-down add pressure
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.”
The results came amid broader pressure on miners. Cointelegraph reported that American Bitcoin had disclosed weaker mining margins the previous week despite a treasury-driven quarterly profit, while Core Scientific said it planned to exit mining by year-end.
HIVE, by contrast, was continuing to invest in Bitcoin production while expanding its artificial intelligence computing business.
HPC expansion alongside continued mining investment
HIVE’s high-performance computing (HPC) hosting revenue rose 71% to $8.8 million, representing 10.4% of quarterly revenue.
The company said it anticipated spending up to $493 million over 36 months to expand its HPC operations, including land acquisitions, data center infrastructure and GPUs. As of the filing, it had spent $145.3 million toward that expansion.
HIVE also planned to spend about $35 million converting its Toronto facility into a Tier-III data center. On the mining side, it was targeting a 100-megawatt substation expansion at its Yguazú site in Paraguay during 2026.
Revenue beats estimates, while shares slip after hours
For its fiscal second quarter, HIVE reported total revenue of $84.9 million, down 2.7% year over year but above the $79.4 million consensus estimate listed by MarketBeat.
MarketBeat reported an adjusted loss of 15 cents per share on its analyst comparison measure, narrower than the expected 16-cent loss. Separately, HIVE’s GAAP net loss was $78.7 million, or 29 cents per share.
According to Google Finance figures cited in the report, HIVE’s Nasdaq-listed shares fell 1.7% to $1.78 in Monday’s after-hours trading, after closing the regular session up 1.7% at $1.81.
Original reporting published Nov. 10, 2026, at 08:42:39 UTC+8. This article reflects that reporting period, not a current market update.
Source: Cointelegraph’s original article.