HIVE announced a quarterly net loss of 78,700,000 USD, and the fiscal quarter description is inconsistent with related reports
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AT A GLANCE
According to BlockBeats, HIVE's third fiscal quarter net loss was 78,700,000 USD, mining output increased to 1,070 BTC, but revenue fell year over year.
Article
HIVE Digital Q3 net loss 78700000 USD, mining output 1070 BTC
BlockBeats news, November 10, Bitcoin miner HIVE Digital Technologies announced its third quarter fiscal year 2026 results ending September 30, with a net loss of 78700000 USD, compared to a net loss of 15800000 USD in the same period last year.
According to the latest financial report released by the company on Monday, Q3 revenue was 84900000 USD, down 2.7% year-on-year.
This quarter, HIVE earned 1070 BTC in mining rewards, up 49% from 718 in the same period last year; mining revenue was 76000000 USD, lower than 82100000 USD in the same period last year. The company stated that the average price of Bitcoin this quarter was 71,003 USD, significantly lower than 114,382 USD in the same period last year, which is the main reason for the decline in mining revenue. In addition, HIVE recorded an impairment loss of 31200000 USD after assessing the recoverable value of its mining equipment, depreciation expenses reached 54900000 USD, and adjusted EBITDA was 24800000 USD.
Original link https://m.theblockbeats.info/flash/376582
Key points
01
The report stated that HIVE Digital Technologies announced its third quarter results for fiscal year 2026 ended September 30, with a net loss of 78,700,000 USD, compared to a net loss of 15,800,000 USD in the same period last year.
02
Third quarter revenue was 84,900,000 USD, down 2.7% year over year.
03
This quarter, we received 1070 BTC in mining rewards, compared to 718 in the same period last year, a year-over-year increase of 49%; mining revenue was 76000000 USD, compared to 82100000 USD in the same period last year.
04
The company stated that the average Bitcoin price this quarter was 71,003 USD, compared to 114,382 USD in the same period last year, and the price decline was the main reason for the decline in mining revenue.
05
The company recorded an impairment loss on mining equipment of 31,200,000 USD, depreciation expenses of 54,900,000 USD, and adjusted EBITDA of 24,800,000 USD.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This report presents a situation of "more coins mined, but less mining revenue": the company attributed the revenue decline mainly to the lower average Bitcoin price. At the same time, the statements list mining equipment impairment losses and depreciation expenses. Adjusted EBITDA is positive, which is a different metric from net loss and cannot be directly interpreted as the company achieving net profitability.
Why it matters to readers
The increase in coin production was not accompanied by an increase in mining revenue, so this performance cannot be judged only by how many BTC were mined; revenue, net loss, and equipment-related expenses must also be considered.
When reading mining company results, one must distinguish between coin production, revenue, and profit; in this report, increased coin production, declining mining revenue, and an expanded net loss occurred simultaneously.
Risks and unknowns
The evidence provided is a media report and does not include the company's original full financial statements; the fiscal quarter attribution, cutoff date, and key figures still need to be verified.
The original text did not disclose the specific adjustment methodology for adjusted EBITDA, so cash flow conditions cannot be confirmed based on this.
The original text did not provide BTC holdings, sales, or stock price reaction, so the actual impact of this performance on related asset prices cannot be determined.
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