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Mining & Infrastructure · 1 min read

HIVE Digital Bitcoin Output Rose 49% in Q3 as Revenue Slipped to $76M

Lower average Bitcoin prices and a $45.6 million power bill weighed on quarterly mining results despite a 71% surge in high-performance computing revenue.

Editorial oversight: Julian Mercer, Chief Editor
Bearish
$BTC $74,983 −0.3%

At a glance

What happened
HIVE Digital produced 1,070 BTC in the September quarter, up 49% year-over-year, but mining revenue dropped 7.4% to $76 million due to lower asset prices.
Why it matters
Higher electricity bills and rig write-downs reflect persistent margin compression for miners, accelerating shifts into AI compute infrastructure.
Who is affected
HIVE Digital Technologies shareholders and institutional crypto mining operators.
What's next
Deployment of up to $493 million in HPC infrastructure over 36 months and a 100-megawatt substation expansion in Paraguay during 2026.
Primary source
cointelegraph.com: HIVE’s Bitcoin output jumps 49%, but mining revenue still falls

Key points

  • HIVE produced 1,070 BTC in the quarter ended Sept. 30, up 49% year-over-year, while mining revenue fell 7.4% to $76 million 1.
  • Quarterly power costs rose to $45.6 million and HIVE booked a $31.2 million noncash write-down on mining rigs amid weaker margins 1.
  • HPC hosting revenue climbed 71% to $8.8 million, supported by a planned $493 million 36-month compute buildout 1.

HIVE Digital Technologies raised its quarterly Bitcoin output by 49% year-over-year to 1,070 $BTC in the three months ended Sept. 30, according to its latest regulatory filing 1. The production jump from 718 BTC in the prior-year period was offset by lower asset values, pushing pure mining revenue down 7.4% to $76 million 1. The average price of BTC captured fell to $71,003 during the quarter, compared to $114,382 a year earlier 1. At the time of writing, Bitcoin traded around $74,885.

Rising overhead further compressed operating results. Electricity expenses increased to $45.6 million from $37.9 million as the company expanded global capacity 1. HIVE also posted a $31.2 million noncash impairment on its mining hardware, which management attributed to depressed unit economics 1. Under GAAP measures, the firm recorded a net loss of $78.7 million, or 29 cents per share 1. Total net revenue fell 2.7% to $84.9 million, though it topped consensus estimates of $79.4 million 1.

High-Performance Computing Pivot

To counter tightening mining margins, HIVE is channeling capital into artificial intelligence infrastructure, echoing broader industry trends outlined in why Bitcoin miners are pivoting to AI 1. Revenue from high-performance computing (HPC) hosting jumped 71% to $8.8 million, contributing 10.4% of total quarterly revenue 1. The company expects to allocate up to $493 million over a 36-month timeline toward HPC land acquisitions, GPU purchases, and data center builds, with $145.3 million spent by the date of the filing 1. That figure includes approximately $35 million designated to convert its Toronto facility into a Tier-III data center 1.

Unlike operators that plan full exits from mining, HIVE continues to maintain its hash rate operations alongside AI computing 1. The firm is targeting a 100-megawatt substation expansion at its Yguazú facility in Paraguay during 2026 1. Following the earnings release, HIVE shares declined 1.7% to $1.78 in after-hours trading on Monday after finishing the regular Nasdaq session at $1.81 1.

Sources

  1. [1] HIVE’s Bitcoin output jumps 49%, but mining revenue still falls — cointelegraph.com, November 10, 2026

Written by Basis Desk's newsroom system from the primary sources above and machine-verified against them before publication. Market figures marked "at the time of writing" come from live exchange data. Report an error: corrections@basisdesk.news · corrections policy.

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