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XMR$551.68HIVE posts $78.7M quarterly net loss on $84.9M revenue
Miner HIVE mined 1,070 BTC in the quarter to Sept. 30; net loss of $78.7M was driven by depreciation and a $31.2M mining-equipment impairment.
Bitcoin miner HIVE Digital Technologies reported a net loss of $78.7 million on revenue of $84.9 million for the second quarter of fiscal 2027, which ended Sept. 30, 2026. The results were published Nov. 9.
Details
According to the company's press release, HIVE mined 1,070 BTC and booked $76.0 million in mining revenue. The loss was driven by non-cash items: $54.9 million of depreciation and a $31.2 million impairment of mining equipment. Adjusted EBITDA was $24.8 million.
The AI and high-performance computing business brought in $8.8 million, up 70.7% from a year earlier. Contracted annual recurring revenue from its GPU cloud is about $185 million, of which roughly $40 million is live. HIVE ended the quarter with $139 million in cash and $22.6 million in digital currency holdings. The company said revenue was broadly stable year over year despite a 27% drop in the bitcoin price; The Block cites an average BTC price of $71,003 for the quarter versus $114,382 a year ago.
What it means for the market
The report fits the pattern at other public miners: mining income tracks the bitcoin price, so companies are expanding AI capacity and selling part of their BTC. For the latest price and network data, see the daily brief and the bitcoin page.
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