--- title: "HIVE Digital Bitcoin Output Rose 49% in Q3 as Revenue Slipped to $76M" description: "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." url: https://basisdesk.news/news/hive-digital-bitcoin-production-revenue-q3-2026 published: 2026-11-10T01:01:23.276Z modified: 2026-11-10T01:01:23.276Z section: Mining & Infrastructure author: Basis Desk Newsroom (AI-generated, source-verified) sentiment: bearish tickers: [BTC] tags: [hive-digital, bitcoin-mining, hpc, ai-infrastructure, earnings, data-centers] license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice. --- # 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. ## 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:** [HIVE’s Bitcoin output jumps 49%, but mining revenue still falls](https://cointelegraph.com/news/hives-bitcoin-output-jumps-49-but-mining-revenue-falls?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound) — cointelegraph.com ## 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]. ## Editorial remark - **Context:** Weaker average Bitcoin prices year-over-year have degraded pure-play mining economics across the public sector, prompting operators to explore compute diversification. - **Impact:** HIVE and peer miners face compressed operating margins from elevated power tariffs and hardware impairment, increasing reliance on alternative data center revenue. - **Watch:** Execution on the $493 million HPC capex plan and delivery of the 100-megawatt Yguazú substation expansion in Paraguay during 2026. 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](https://basisdesk.news/news/bitcoin-miners-ai-hpc-data-centers) [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. [HIVE’s Bitcoin output jumps 49%, but mining revenue still falls](https://cointelegraph.com/news/hives-bitcoin-output-jumps-49-but-mining-revenue-falls?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound) — cointelegraph.com, 2026-11-10 --- Basis Desk Newsroom · AI-generated, source-verified · https://basisdesk.news/about/how-we-use-ai