HIVE Shares Surge as Bitcoin Miner Posts 285% Revenue Increase

TLDR

• HIVE Digital Technologies reported record quarterly revenue of $87.3 million for the quarter ending September 30.
• HIVE shares jumped 7.55% on Monday and continued rising 0.56% in after-hours trading to $3.58.
• The company achieved a 285% revenue increase compared to the same period last year.
• HIVE reported a net loss of $15.8 million due to accelerated depreciation of mining machines in Paraguay.
• Bitcoin mining revenue doubled from a year ago to reach $82.1 million for the quarter.

HIVE Digital Technologies reported record revenue of $87.3 million for the quarter ending September 30. The company saw a 285% increase compared to the same period last year. HIVE shares jumped 7.55% on Monday following the announcement.

HIVE Shares Rise on Strong Quarterly Performance

The Bitcoin mining company nearly doubled its revenue from the previous quarter. Executive chairman Frank Holmes attributed the growth to aggressive efforts to expand hashrate. He stated that revenue soared despite Bitcoin hashprice rising only about 25% year-over-year.

HIVE shares continued climbing by 0.56% in after-hours trading to reach $3.58. The stock has gained 25% so far this year. However, HIVE shares dropped from a 2025 peak of $6.96 in early October.

The company reported a net loss of $15.8 million for the quarter. HIVE attributed this loss to accelerated two-year depreciation of mining machines. These machines support expansion efforts in Paraguay.

Bitcoin mining revenue for the quarter doubled from a year ago to $82.1 million. The company mined 717 BTC despite increased network difficulty. HIVE shares reflected investor confidence in these operational improvements.

Bitcoin Price Movements Boost Mining Sector Results

Bitcoin climbed from around $107,000 at the start of July to over $123,500 by mid-August. The cryptocurrency then reached a peak of over $126,000 by early October. It has since fallen 28% and briefly dipped under $90,000 early Tuesday.

HIVE shares have tracked Bitcoin’s price movements throughout the year. Investors sold riskier assets as the cryptocurrency declined from its October highs. The correlation between HIVE shares and Bitcoin prices remains strong.

Other Bitcoin miners also reported strong quarterly results. Bitdeer announced revenues of $169.7 million on November 10, representing a 174% yearly increase. TeraWulf reported revenues of $50.6 million, up 87% year-over-year.

The sector benefited from Bitcoin’s mid-year price gains. HIVE shares and other mining stocks captured these market opportunities. Mining companies expanded operations to capitalize on favorable conditions.

AI Computing Drives Additional Revenue Growth

HIVE’s AI-focused computing arm achieved record quarterly revenue of $5.2 million. This represents a 175% increase from the same period last year. The company continues diversifying beyond cryptocurrency mining.

Many Bitcoin miners have begun shifting operations toward powering artificial intelligence. Bitfarms announced Thursday it would shut down its cryptocurrency mining business within two years. CEO Ben Gagnon stated this pivot to AI was the best option for most US-based miners.

HIVE shares reflect the company’s dual focus on Bitcoin mining and AI computing. The strategy positions the firm to benefit from both sectors. Revenue diversification strengthens the company’s long-term outlook.

HIVE shares traded at $3.58 following Monday’s after-hours session. The stock remains well below its October peak despite recent gains. HIVE shares have maintained positive momentum on the back of record quarterly results.

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