Earnings report 📈 Stocks 🌍 United States

HIVE Digital Shares Slip 1.7% as Mining Revenue Drops 7.4% to $76 Million

HIVE Digital shares fell 1.7% after hours as a 49% jump in Bitcoin production failed to offset lower mining revenue, which dropped to $76 million amid a $31.2 million equipment write-down and a $78.7 million GAAP net loss.

🕐 1 min read

2 assets impacted (Stocks, Crypto). Net bias: 0 Bullish, 2 Bearish, 0 Neutral. Strongest signal: HIVE ↓ 4/10 (60% confidence).

📊 Affected Assets (2)

HIVE
Bearish 🤖 60%
📅 Short-term 🌍 US · Explicit

Fiscal Q2 revenue of $84.9 million beat the $79.4 million consensus and the adjusted loss of 15 cents beat the 16-cent estimate, yet mining revenue fell 7.4% to $76 million on an average Bitcoin price of $71,003 versus $114,382 a year earlier. A $31.2 million equipment write-down and a $78.7 million GAAP net loss weigh on the outlook, and the shares already slipped 1.7% to $1.78 after hours despite the beat.

Catalysts
  • ▼ After-hours drop of 1.7% to $1.78 on the results announced November 10
  • ▼ $493 million planned HPC/AI expansion spend over 36 months, with $145.3 million already spent
Risk Factors
  • ▲ Revenue and adjusted loss both beat analyst estimates, which could limit downside
  • ▲ HPC hosting revenue grew 71% to $8.8 million, now 10.4% of quarterly revenue, offering a diversification cushion
BTC
Bearish 🤖 50%
📅 Short-term 🌍 GLOBAL ✨ Inferred

The average Bitcoin price fell to $71,003 in the September quarter from $114,382 a year earlier, and the article cites depressed mining economics, with Core Scientific leaving mining and Bitcoin ETFs shedding $1.3 billion in the biggest weekly outflow since late June. This article itself is one miner's earnings and is unlikely to move Bitcoin materially.

Catalysts
  • ▼ Bitcoin ETFs shed $1.3 billion in the biggest weekly outflow since late June
Risk Factors
  • ▲ Mining output growth of 49% at HIVE shows capacity continues to expand
  • ▲ Analysts see no broader contagion from the $6.3 billion Binance hack

🧭 Full analysis of these assets

🎯 Key Takeaways

  • HIVE produced 1,070 Bitcoin in the quarter ended Sept. 30, 2026, a 49% increase from the prior year.
  • Mining revenue fell 7.4% to $76 million as the average Bitcoin price dropped to $71,003 from $114,382.
  • HPC hosting revenue grew 71% to $8.8 million, representing 10.4% of total quarterly revenue.
  • The company recorded a $31.2 million noncash equipment write-down and a $78.7 million GAAP net loss.
  • HIVE plans to spend $493 million over 36 months to expand its HPC operations, with $145.3 million already deployed.

📝 Executive Summary

HIVE Digital Technologies reported a fiscal second-quarter revenue of $84.9 million, beating analyst estimates despite a 7.4% decline in mining revenue. While Bitcoin production surged 49% to 1,070 BTC, lower average Bitcoin prices of $71,003 and a $31.2 million equipment write-down weighed on the company's performance. Shares fell 1.7% to $1.78 in after-hours trading following the release.

❓ FAQ

HIVE · HIVE beat estimates, so why did the stock fall?

The shares dropped 1.7% to $1.78 after hours because the beat came despite mining revenue falling 7.4% to $76 million, a $31.2 million equipment write-down, and a GAAP net loss of $78.7 million as the average Bitcoin price fell to $71,003 from $114,382 a year earlier.

HIVE · How exposed is HIVE to Bitcoin mining problems?

Mining still dominates: HIVE produced 1,070 BTC in the quarter and earned $76 million from mining, while its AI/HPC hosting business brought in $8.8 million, or 10.4% of the $84.9 million in quarterly revenue. Electricity costs also rose to $45.6 million from $37.9 million.

BTC · What does HIVE's earnings report say about the Bitcoin price?

HIVE earned its $76 million mining revenue on an average Bitcoin price of $71,003 for the three months ended Sept. 30, 2026, down from $114,382 in the prior-year period, which is why revenue fell 7.4% even though output rose 49% to 1,070 BTC.