HIVE Reports $93.1M Record Revenue Amid Bitcoin Dip

• HIVE Digital Technologies reported record Q3 revenue of $93.1M, marking a 219% year-over-year increase.
• The company's growth came during a 25% Bitcoin price decline, driven by increased mining hashrate and global expansion.

On February 17, 2026, Cryptopolitan reported that HIVE Digital Technologies achieved record third-quarter revenue of $93.1 million, reflecting a significant 219% growth compared to the same period last year. This milestone occurred despite a challenging market environment characterized by a 25% drop in Bitcoin prices.

HIVE’s strong revenue performance was largely supported by an 8% rise in digital currency mining revenue, which totaled $88.2 million for the quarter. The company attributed this increase to a 41% expansion in its average mining hashrate, which reached 22.9 exahash per second (EH/s). However, this growth was partially offset by a 10% decline in Bitcoin prices and a 15% increase in network difficulty during the quarter. HIVE reported mining a total of 885 BTC over this period.

Additionally, HIVE’s high-performance computing (HPC) business segment, BUZZ HPC, contributed $4.9 million in revenue during the quarter. This segment generated positive results against direct costs of $2.3 million, further supporting the company's overall financial results. Despite these revenue gains, HIVE reported that its gross operating margin stood at $32.1 million.

Despite achieving record revenue, HIVE incurred a net loss of $91.3 million for the quarter. According to the company, this loss was largely driven by a $57.4 million non-cash charge for accelerated depreciation of its next-generation ASIC mining equipment. HIVE has adopted an aggressive two-year depreciation cycle for these assets, diverging from the typical industry standard of four years.

Operationally, HIVE has continued to expand its global presence. A significant initiative is underway in Paraguay to leverage lower energy costs in the region. The company remains on track to scale its Bitcoin mining capacity to reach 25 EH/s by the end of 2025. Meanwhile, administrative expenses increased slightly to $8.4 million, up from $7.8 million in the previous quarter, due to higher staffing levels required for its global expansion efforts.

As of February 17, 2026, 15:08 UTC, Bitcoin (BTC) is trading at $66,922.55, with a 2.34% decrease in 24-hour trading volume, according to the latest available market data.