News · Mining & Infrastructure
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.
Key point 1 of 3
01
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 .
Key point 2 of 3
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Quarterly power costs rose to $45.6 million and HIVE booked a $31.2 million noncash write-down on mining rigs amid weaker margins .
Key point 3 of 3
03
HPC hosting revenue climbed 71% to $8.8 million, supported by a planned $493 million 36-month compute buildout .
Context
Weaker average Bitcoin prices year-over-year have degraded pure-play mining economics across the public sector, prompting operators to explore compute diversification.
Why it matters
HIVE and peer miners face compressed operating margins from elevated power tariffs and hardware impairment, increasing reliance on alternative data center revenue.
What to watch
Execution on the $493 million HPC capex plan and delivery of the 100-megawatt Yguazú substation expansion in Paraguay during 2026.
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