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Sep 30, 2025
Hive Q2 2026 Earnings Report
HIVE reported record Q2 results with substantial growth in revenue and hashrate expansion.
Key Takeaways
HIVE Digital Technologies posted its strongest quarter to date with revenue tripling year-over-year, driven by aggressive hashrate growth and increased demand for its HPC segment. Despite a GAAP net loss due to non-cash depreciation, operational metrics were strong.
Revenue by Segment
Forward Guidance
HIVE plans to scale Bitcoin mining and expand AI cloud infrastructure across multiple global locations.
Positive Outlook
- Targeting 35 EH/s hashrate by Q4 FY2026.
- Projected $400M Bitcoin mining revenue run-rate.
- BUZZ HPC aiming for $140M annualized revenue by Q4 FY2026.
- 80% gross margins expected in HPC segment.
- 300 MW of new capacity completed in Paraguay with expansion to 400 MW planned.
Challenges Ahead
- Accelerated depreciation continues to impact net income.
- Heavy reliance on Bitcoin price and network difficulty.
- Non-cash losses from equity investments and derivatives affected GAAP results.
- G&A expenses increased due to global expansion.
- Operational costs tied heavily to energy prices and infrastructure scaling.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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