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.
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.
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.
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.
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.
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.
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.