HIVE Posts $78.7 Million Quarterly Loss as AI Revenue Grows

HIVE Digital Technologies reported a $78.7 million net loss for its fiscal second quarter, as higher Bitcoin production and rapid growth in its computing business were offset by lower mining revenue and substantial noncash charges.

Revenue for the three months ended September 30, 2026, was $84.9 million, down 2.7% from a year earlier. HIVE received 1,070 Bitcoin in mining rewards, up 49% from 718 in the same quarter last year, but digital-currency revenue fell 7.4% to $76 million. The company reported that the average Bitcoin price during the quarter was $71,003, compared with $114,382 a year earlier.

The loss included $54.9 million in depreciation and a $31.2 million noncash impairment of mining equipment. HIVE said the impairment followed a recoverability assessment that reflected challenging mining economics and lower equipment values. Adjusted EBITDA, a company-reported measure, was positive at $24.8 million.

HIVE’s BUZZ high-performance computing business generated $8.8 million in revenue, up 70.7% from $5.2 million a year earlier. The company said growth reflected deployment of an NVIDIA B200 GPU cluster in Manitoba and demand across GPU marketplaces. The segment...