Did a larger bitcoin haul offset a lower sale price? In the fiscal second quarter ended September 30, it did not. Figures below are as reported by Odaily on November 10, 2026, attributing the results to The Block. They describe that quarter, not a later period.
Mining output versus mining revenue
HIVE Digital Technologies reported quarter revenue of $84.9 million, down 2.7% year over year. The company received 1,070 BTC in mining rewards, up 49% from the year-earlier quarter. Mining revenue still fell, from $82.1 million to $76.0 million, because the average bitcoin price used in the comparison dropped from $114,382 to $71,003.
Those are company results, not network-wide hashrate or difficulty figures. The source does not give power cost, hashprice, fleet efficiency, or an individual-site cost stack, so this note does not infer a cost per bitcoin or a margin per machine.
Loss, equipment write-down, and adjusted EBITDA
Net loss was $78.7 million, compared with a loss of $15.8 million in the same quarter a year earlier. Within the quarter, HIVE recorded a $31.2 million impairment on mining equipment. That charge is an asset write-down, not a reported running cost such as electricity. The company also reported adjusted EBITDA of $24.8 million. Adjusted EBITDA is the company’s non-GAAP figure as stated; the source does not provide the reconciliation.
HPC and GPU cloud: operating results versus targets
HIVE’s BUZZ high-performance computing business recorded $8.8 million of revenue in the quarter, up 70.7% year over year.
On the GPU cloud, the company distinguished capacity that is already running from capacity that is only signed:
- Operating ARR was about $40 million.
- Contracted ARR was about $185 million, and that figure includes capacity not yet in operation.
Two further figures are company targets, not results already booked. HIVE expected GPU-cloud ARR to reach $200 million in the fourth quarter of 2026, and it planned for total HPC ARR of $700 million by the end of 2028.
Cash and digital assets
At the end of September, HIVE held $139 million in cash and cash equivalents and $22.6 million in digital assets.
Source: Odaily, published November 10, 2026 (20:06, UTC+8), citing The Block.
