HIVE Scales to 25 Exahash, Mines 879 Bitcoin and Reports $93M in Q3 Revenue
HIVE scaled capacity to 25 exahash, mining 879 Bitcoin in Q3 and generated $93.1 million revenue with $6 million adjusted EBITDA. It held $14 million cash, $14 million digital currency, 481 Bitcoin treasury and posted $91 million net loss from $57 million depreciation and $31 million derivatives charges.
1. Scale-Up in Mining Capacity
HIVE increased its mining footprint from 6 exahash to 25 exahash by year-end, operating an average of 22.8 exahash during the quarter. This expansion enabled the company to mine 879 Bitcoin, representing about 2% of the global network’s hash rate.
2. Financial Results and Cash Position
The company generated $93.1 million in revenue for fiscal Q3 2026, achieving $6 million in adjusted EBITDA and $5.7 million on a non-GAAP basis. It ended the quarter with $14 million in cash, $14 million in digital currencies and a 481-Bitcoin treasury, while reporting a $91 million net loss driven primarily by $57 million in depreciation and $31 million in fair-value derivative charges.
3. HPC Segment Expansion
HIVE’s high-performance computing operations delivered nearly $5 million in revenue, translating to a $20 million annual run rate. A two-year NVIDIA Blackwell B200 GPU contract is expected to boost HPC ARR from $20 million to $35 million by March 31, 2026, with a 70% realized pricing uplift and plans to deploy 11,000 GPUs by year-end.
4. Treasury and Cost Efficiency Strategy
The “dynamic HODL” approach realized approximately $14 million by pledging and repurchasing 1,400 Bitcoin at strikes of $87,000, $93,000, $110,000 and $123,000. Proceeds funded 3,800 new S21 XP miners, improving fleet efficiency from 17.5 to 16.7 joules per terahash and lowering global mining costs by 5%.