Bitcoin miner HIVE posts $78.7M net loss in fiscal Q2, GPU cloud business signed ARR reaches $185M

Odaily: Bitcoin mining company HIVE Digital Technologies reported fiscal second-quarter revenue of $84.9 million for the period ended September 30, down 2.7% year-over-year; net loss was $78.7 million, compared with a loss of $15.8 million in the same period last year. During the quarter, the company earned 107 million BTC in mining rewards, up 49% year-over-year, but mining revenue fell from $82.1 million to $76 million, impacted by the average Bitcoin price dropping from $114,382 in the same period last year to $71,003. In addition, the company recorded a $31.2 million impairment on mining equipment, and adjusted EBITDA was $24.8 million.

On the AI business side, HIVE's BUZZ high-performance computing business generated $8.8 million in revenue this quarter, up 70.7% year-over-year. The company's GPU cloud business currently has actual operating ARR of approximately $40 million and signed ARR of approximately $185 million, including computing capacity that has not yet been put into operation. HIVE expects GPU cloud business ARR to reach $200 million in the fourth quarter of 2026, and plans to achieve total HPC business ARR of $700 million by the end of 2028. As of the end of September, the company held $139 million in cash and cash equivalents, as well as $22.6 million in digital assets. (The Block)