HIVE Digital Technologies mined more bitcoin and collected less mining revenue. ChainCatcher reported on 10 November 2026 that, in the quarter ended 30 September 2026, the company produced 1,070 bitcoin, up 49% from 718 bitcoin a year earlier. Mining revenue fell 7.4% year over year to $76 million. The average bitcoin price in the period fell from $114,382 to $71,003. Those are HIVE\u2019s results, not network hashrate or difficulty.<\/p>\n
As HIVE expanded global mining capacity, electricity costs rose from $37.9 million to $45.6 million. That is a cash operating cost. In the same period the company recorded a $31.2 million non-cash impairment on mining machines, attributed to weak mining economics. The impairment is an accounting charge, not additional spending on power.<\/p>\n
High-performance computing hosting revenue grew 71% to $8.8 million and accounted for 10.4% of quarterly revenue. Separately, HIVE planned to invest up to $493 million over 36 months to expand the HPC business. As of the filing, $145.3 million had been invested. The company also planned to spend approximately $35 million converting the Toronto facility into a Tier-III data center.<\/p>\n
Fiscal second-quarter revenue was $84.9 million, down 2.7% year over year and above the $79.4 million market expectation cited in the report. The GAAP net loss was $78.7 million, or 29 cents per share. ChainCatcher said HIVE\u2019s Nasdaq shares fell 1.7% to $1.78 in Monday after-hours trading.<\/p>\n
The report presented the quarter as further evidence of pressure on bitcoin mining economics. It noted that American Bitcoin had reported weaker mining margins the previous week, and that Core Scientific planned to exit mining entirely before the end of the year.<\/p>\n