Revenue Surges on Mining Expansion
Shares of HIVE Digital Technologies Ltd. climbed about 7.5% on Monday after the company reported record quarterly revenue of US$87.3 million for the period ending September 30, 2025. The figure marked a 285% jump from last year and came in roughly 91% above the previous quarter. Investors responded quickly, especially as the crypto-mining market continues to reward companies that show clear operational scale.
HIVE credited most of its surge to rapid growth in bitcoin mining. The company generated US$82.1 million from bitcoin alone, more than doubling its sequential performance. Management pointed to an 86.2% quarter-over-quarter boost in average hashrate, which helped the fleet reach 16.2 EH/s by the end of the quarter.
HPC Services Strengthen Diversification
HIVE also gained traction with its BUZZ HPC division, which brought in US$5.2 million in revenue. This number reflected a 175% year-over-year increase and underscored HIVE’s move to build a business less dependent on bitcoin price swings.
Even with record revenue, HIVE reported a net loss of US$15.8 million. The company linked the loss mainly to accelerated depreciation of ASIC hardware at its Paraguay expansion site. However, investors still appeared optimistic, likely due to HIVE’s mix of mining growth and rising HPC activity.
Outlook and Key Investor Questions
Looking ahead, HIVE sees more room to scale. The company now has 300 MW of power capacity online in Paraguay and expects to reach 400 MW. Management also outlined a target hashrate of 35 EH/s by Q4 2026.
For investors, several points will shape future sentiment:
- Whether HIVE can maintain margins as mining competition increases.
- How it navigates potential regulatory challenges.
- The extent to which its HPC division can grow independently of bitcoin market cycles.
HIVE’s strong quarter shows that crypto-mining companies able to expand capacity quickly—and control costs—can still post standout results even when the broader market stays cautious.
