For the three months ended Sept. 30, 2026, HIVE Digital Technologies produced 1,070 Bitcoin, up 49% from 718 a year earlier, according to its latest regulatory filing. Mining revenue nevertheless fell 7.4% to $76 million as the average Bitcoin price declined to $71,003 from $114,382 in the prior-year period.
The results, reported by Cointelegraph on Nov. 10, 2026, show a divergence between production growth and mining revenue: higher output did not compensate for lower Bitcoin prices.
Mining costs rise as capacity expands
HIVE’s electricity costs increased to $45.6 million from $37.9 million as it 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 accompanied pressure elsewhere in the sector. 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 entirely by year-end.
HIVE, by contrast, continued investing in both Bitcoin mining and AI computing.
HPC expansion alongside continued mining investment
Revenue from HIVE’s high-performance computing (HPC) hosting business 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 HPC operations, including land purchases, data center infrastructure and GPUs. It had reported $145.3 million in spending toward that expansion as of the filing.
HIVE also planned to spend about $35 million converting its Toronto facility into a Tier-III data center. In Bitcoin mining, it was targeting a 100-megawatt substation expansion at its Yguazú site in Paraguay during 2026.
Revenue beats estimates, but shares fall after hours
HIVE reported fiscal second-quarter revenue of $84.9 million, down 2.7% year over year but above the $79.4 million consensus estimate listed by MarketBeat.
MarketBeat’s analyst-comparison measure showed an adjusted loss of 15 cents per share, narrower than the expected 16-cent loss. Separately, HIVE reported a GAAP net loss of $78.7 million, or 29 cents per share.
According to Google Finance figures cited in the report, HIVE’s Nasdaq-listed shares closed Monday’s regular session up 1.7% at $1.81, then fell 1.7% to $1.78 in after-hours trading.
The quarter’s central distinction is between output and economics: Bitcoin production increased, but mining revenue declined while electricity costs rose. HPC hosting revenue grew, though it remained a minority of the company’s quarterly revenue.
Source: Cointelegraph original article, published Nov. 10, 2026, at 08:42:39 UTC+08:00.