HIVE Digital Sets New Revenue Record Despite Reporting Quarterly Loss

Source: DefiPlanet Original Title: HIVE Digital Sets New Revenue Record Despite Reporting Quarterly Loss Original Link:

Quick Breakdown

• HIVE Digital posted record quarterly revenue of $87.3M, driven by aggressive hashrate expansion.
• Despite the milestone, the company still booked a $15.8M loss due to the rapid depreciation of mining equipment in Paraguay.
• HIVE shares jumped as the firm joins other miners reporting strong revenue growth amid Bitcoin’s mid-year price surge and growing pivot toward AI.

Bitcoin mining firm HIVE Digital Technologies has reported its highest quarterly revenue in history, driven by rising Bitcoin prices and strategic expansion of its mining capacity, despite the company still incurring a loss at the end of the period.

The firm disclosed on Monday that its revenue for the quarter ended September 30 surged to $87.3 million, marking a 285% increase from the same period last year and nearly double the results of the previous quarter. Executive Chairman Frank Holmes attributed the milestone to rapid hashrate growth rather than fluctuations in mining profitability, noting that the Bitcoin hash price only increased by roughly 25% year-over-year.

Financials and operating costs

Even with solid revenue growth, HIVE still posted a $15.8 million net loss, mainly because it wrote down the cost of its Bitcoin mining rigs over an accelerated two-year schedule for its new Paraguay facilities. The company stressed that the short-term hit was part of its strategy to scale its global infrastructure.

HIVE’s stock reacted well, closing up 7.55% on Monday and picking up a bit more in after-hours trading to $3.58. The share price is still up about 25% for the year, but it’s well off its 2025 high of $6.96 from early October, a drop that followed Bitcoin’s sharp pullback as risk appetite cooled.

Sector-wide growth and shift toward AI

HIVE joins a growing list of mining companies reporting significant revenue gains for the September quarter. Bitdeer posted $169.7 million, up 174%, while TeraWulf reported an 87% jump to $50.6 million.

In addition, the industry’s transition toward AI-driven computing is accelerating. HIVE’s AI and high-performance computing division delivered $5.2 million in revenue, which is a 175% annual increase. Meanwhile, Bitfarms confirmed that it is winding down its crypto mining operations entirely within two years, pivoting fully into artificial intelligence infrastructure, citing better long-term profitability for U.S. miners.