How did HIVE’s mining results change when it produced more bitcoin? In a report published on November 10, 2026, ChainCatcher said HIVE Digital Technologies produced 1,070 BTC in the quarter ended September 30, up 49% from 718 BTC a year earlier. Mining revenue nevertheless fell 7.4% to $76 million as the average bitcoin price declined from $114,382 to $71,003.
The operating-cost picture also tightened. As HIVE expanded its global mining capacity, its electricity costs rose from $37.9 million to $45.6 million. Separately, the company recorded a $31.2 million noncash impairment on mining equipment, citing weak mining economics. That impairment is an accounting charge, not an electricity expense.
HIVE’s high-performance computing (HPC) hosting revenue grew 71% to $8.8 million, or 10.4% of quarterly revenue. The company plans to invest up to $493 million in HPC expansion over 36 months; it had invested $145.3 million as of the filing. It also plans to spend approximately $35 million converting a Toronto facility into a Tier III data center. These are planned capital expenditures, not reported quarterly operating costs.
For its fiscal second quarter, HIVE reported total revenue of $84.9 million, down 2.7% year over year but above the $79.4 million market expectation cited by ChainCatcher. Its GAAP net loss was $78.7 million, or $0.29 per share. The report said HIVE’s Nasdaq-listed shares fell 1.7% to $1.78 in Monday after-hours trading. It also noted that American Bitcoin had reported weaker mining margins the previous week and that Core Scientific planned to exit mining entirely by year-end.
Source: chaincatcher.com (originally published 2026-11-10 08:50 UTC+8)
