HIVE Digital Technologies mined more bitcoin in its second fiscal quarter ended September 30, but reported less mining revenue. According to Foresight News, citing The Block, HIVE mined 1,070 BTC, up 49% year over year, while mining revenue fell to $76 million from $82.1 million a year earlier. HIVE attributed the revenue decline primarily to a lower average bitcoin price.
Company-wide revenue fell 2.7% year over year to $84.9 million. HIVE reported a net loss of $78.7 million, compared with $15.8 million a year earlier, and recorded a $31.2 million impairment charge on mining machines during the quarter.
Outside mining, revenue from HIVE’s BUZZ high-performance computing business rose 70.7% to $8.8 million. The company said its live GPU cloud services represented approximately $40 million in annualized revenue. Its figure of approximately $185 million also includes contracted computing capacity that was not yet online; it is not revenue already earned.
Original report: Foresight News, published November 10, 2026, at 20:00 UTC+8.