HIVE Digital Technologies reported a record revenue of $93.1 million for its fiscal third quarter, marking a significant 219% increase from $29.2 million a year earlier, despite an overall downturn in Bitcoin prices. This surge was fueled by an expansion in Bitcoin mining capacity and the high-performance computing segment, enabling HIVE to generate 885 Bitcoin during the period. Notably, the company’s installed Bitcoin mining capacity was scaled to 25 exahash per second thanks to its operations in Paraguay, which allow access to lower-cost renewable energy, supporting HIVE’s dual-engine model that integrates Bitcoin mining with renewable-powered AI compute infrastructure. While HIVE achieved strong revenue numbers, it also reported a net loss of $91.3 million, largely due to accelerated depreciation linked to its expansion efforts.
