HIVE Digital (HIVE) Stock: Mining Company Posts Record Revenue Despite Bitcoin Decline

TLDR

• HIVE Digital Technologies achieved record quarterly revenue of $87.3 million, representing a 285% year-over-year increase
• Bitcoin mining operations produced 717 BTC and generated $82.1 million in revenue during the quarter
• Shares gained 7.55% Monday, closing at $3.56 despite broader crypto market declines
• AI computing arm Buzz recorded $5.2 million in revenue, up 175% from last year
• Company completed 300 MW capacity expansion in Paraguay and secured Dell Technologies partnership

HIVE Digital Technologies delivered record quarterly results for the period ending September 30. The company posted $87.3 million in total revenue, marking a 285% increase compared to the same quarter last year.

The quarterly performance also showed 91% growth from the previous quarter. HIVE reported adjusted EBITDA of $31.5 million across its operations.

Bitcoin mining remained the primary revenue driver for the company. Mining operations generated $82.1 million during the quarter, with HIVE successfully mining 717 BTC.

HIVE Digital Technologies Ltd., HIVE

The company achieved these results despite increased network difficulty. HIVE’s average hash rate reached 16.2 EH/s, representing an 86% quarter-over-quarter increase.

Share Performance Defies Market Trends

HIVE shares closed Monday at $3.56, gaining 7.55% during regular trading hours. The stock continued climbing 0.56% in after-hours trading to reach $3.58.

The gains came as other crypto stocks declined. Circle dropped over 6% and Coinbase fell approximately 7% during the same trading session.

Bitcoin fell below $92,000 Monday for the first time since April. The cryptocurrency has declined 27% from its October peak above $126,000, erasing all 2025 gains.

HIVE stock has dropped 37% over the past month following broader crypto market weakness. The company remains up 25% year-to-date from a 2025 high of $6.96 in early October.

AI Computing Division Expands

The Buzz high-performance computing division posted record revenue of $5.2 million. This marked a 175% increase from the same period last year.

Gross operating margins in the division improved to 49%. HIVE announced a partnership with Dell Technologies to deploy 504 new-generation GPUs.

The GPUs will be installed through liquid-cooled servers at the Bell AI Fabric data center. HIVE targets a fleet exceeding 6,000 new GPUs by the end of 2026.

The company currently operates 5,000 GPUs. Management projects the expansion will generate approximately $140 million in annualized HPC revenue by Q4 2026 at roughly 80% gross margins.

Infrastructure Growth Continues

HIVE completed a 300 MW capacity addition in Paraguay during the quarter. The company recently reached an operational hash rate of 25 EH/s.

HIVE now operates 540 MW of global hydro-powered data center capacity. The company secured agreements for 400 MW in Paraguay through power purchase agreements.

Management projects potential scaling to 35 EH/s by Q4 2026. Executive Chairman Frank Holmes emphasized the company’s aggressive expansion strategy during the earnings call.

The company reported a net loss of $15.8 million for the quarter. HIVE attributed the loss to accelerated two-year depreciation of Bitcoin mining equipment deployed in Paraguay.

The post HIVE Digital (HIVE) Stock: Mining Company Posts Record Revenue Despite Bitcoin Decline appeared first on Blockonomi.