CMC News

#HIVEDigital Shares Surge 7.5% on Record Quarterly Revenue

HIVE Digital Technologies shares climbed after the $BTC miner reported record revenue for the quarter ending Sept. 30. The company posted $87.3 million in revenue, up 285% from the same period last year and nearly doubling quarter-over-quarter results.

The revenue surge came as $BTC climbed from around $107,000 at the start of July to a peak of over $123,500 by mid-August. $BTC went on to reach a high above $126,000 by early October before falling 28% to dip under $90,000 briefly on Tuesday. HIVE shares ended trading on Monday with a gain of 7.55% and continued to rise by 0.56% after hours to $3.58.

HIVE executive chairman Frank Holmes said that despite $BTC hashprice being up only about 25% year-over-year, revenue soared 285% due to aggressive hashrate expansion. The company reported Bitcoin #mining revenue for the quarter doubled from a year ago to $82.1 million. HIVE mined 717 $BTC despite an increase in network difficulty.

The company reported a net loss of $15.8 million for the quarter, which it attributed to accelerated two-year depreciation of #Bitcoin mining machines used in its expansion efforts in Paraguay. HIVE has gained 25% so far this year, but the stock has dropped from a 2025 peak of $6.96 in early October, falling alongside Bitcoin as investors sell riskier assets.