HIVE Digital Posts $62M Q3 Revenue; Electricity Costs Squeeze Margins
HIVE Digital reported a record $62 million in Q3 2026 revenue, driven by mining 1,200 BTC. Operating expenses rose 18% year-over-year as electricity costs jumped, narrowing gross margin to 28%.
1. Q3 2026 Financial Results
HIVE Digital achieved a record $62 million in revenue for Q3 2026, marking a 45% increase from the prior year. The company mined 1,200 BTC during the quarter, its highest quarterly production to date.
2. Rising Operating Expenses
Total operating expenses climbed 18% year-over-year, driven primarily by higher electricity rates under new power contracts. This cost pressure reduced gross margin to 28%, down from 35% in Q3 2025.
3. Operational Outlook
Management reiterated plans to expand mining capacity to 300 MW by year-end to capitalize on economies of scale. The company aims to mitigate power-cost volatility through long-term energy agreements.