HIVE Revenue Reaches $84.882 Million in Fiscal Second Quarter as Net Loss Widens
Key Facts
HIVE Digital Technologies reported revenue of $84.882 million in the second quarter of its 2027 fiscal year, ended September 30, 2026, down about 2.7% from $87.253 million a year earlier, according to its filing with the U.S. Securities and Exchange Commission. Net loss after tax widened to $78.701 million, compared with $15.797 million in the same period of the previous fiscal year. Diluted loss per share was $0.29. The results combine digital currency mining with high-performance computing hosting services, with total revenue edging lower despite growth in the latter business. The filing also showed a decline in gross operating margin and a wider gross loss during the quarter.
Mining revenue was $76.038 million, while high-performance computing hosting contributed $8.844 million, according to the filing. The company attributed weaker mining revenue to a decline in the average Bitcoin price cited in its results, to $71,003 from $114,382 in the comparable period. In contrast, it received 1,070 Bitcoin during the quarter, versus 718 a year earlier. HIVE said a higher hash rate and lower network difficulty supported the increase in the amount of Bitcoin received. Average network difficulty was 128 trillion, compared with 130 trillion in the previous period, according to the company.
High-performance computing hosting revenue rose to $8.8 million from $5.2 million in the comparable period. HIVE attributed the increase to the start of revenue recognition under a new two-year contract. The contract has total gross monthly recurring revenue of $1.25 million, according to the company’s statement. This highlights a parallel growth path alongside mining, whose revenue was affected by the decline in the average Bitcoin price during the quarter. In August, the company announced a five-year agreement for cloud computing services using GPUs, with a total contract value of about $350 million, covering a dedicated cluster of 2,016 NVIDIA Blackwell Ultra units.
Gross production results swung to a loss of $24.661 million, after a gross profit of $4.112 million in the comparable quarter, according to the filing. Gross operating margin was $30.202 million, compared with $42.404 million a year earlier, and its share of revenue fell to 36% from 49%. Depreciation rose to $54.863 million from $38.292 million. The company also recorded a non-cash impairment of equipment of $31.187 million during the quarter, with no corresponding amount recorded in the prior period. These items weighed on results alongside lower mining revenue and coincided with a wider net loss after tax.
For the six months ended September 30, 2026, HIVE revenue was about $164.002 million, up from $132.864 million in the comparable period. The company, however, recorded a net loss after tax of $221.608 million in the first half, compared with net income of $19.219 million a year earlier. In the first quarter of fiscal 2027, revenue was $79.1 million, up 73.5% year over year and 10.2% quarter over quarter, according to the company’s results. HIVE held about $138.990 million in cash on September 30, 2026, compared with $23.113 million on March 31, 2026. These figures provide broader context for the quarter: first-half revenue increased while the bottom line swung to a loss.
HIVE shares closed at $1.78 on November 6, 2026, according to EL7 data. The reliable source available did not include the stock’s daily trading range on that date. The company said an earnings discussion call will be held Tuesday, November 10, 2026, at 8:00 a.m. Eastern Time. The call is scheduled to give the company an opportunity to discuss its fiscal 2027 second-quarter results. It follows the release of results for the period ended September 30, 2026.