Catenaa, Tuesday, February 24, 2026-Bitcoin miner Hive Digital Technologies reported record revenue for the second consecutive quarter Tuesday, posting $93.1 million for its fiscal third quarter ending Dec. 31, 2025, a 219% increase year-over-year and 7% rise from the previous quarter.
Hive attributed growth to its expanded Bitcoin hashrate fleet and BUZZ HPC platforms, which drove higher operational output. The miner also reported adjusted EBITDA of $5.7 million.
Despite strong top-line performance, Hive posted a $91.3 million net loss tied to accelerated depreciation and non-cash revaluation adjustments. The company is depreciating its next-generation ASIC fleet over two years instead of the standard four-year cycle, reflecting investments in its Paraguay expansion.
Executive Chairman Frank Holmes highlighted that Hive continues to scale its renewable-powered Tier-I hashrate platform to 25 exahashes per second and is advancing artificial intelligence-based revenue initiatives.
In November 2025, Hive launched a $300 million at-the-market equity program and raised $15.8 million from share sales during the quarter. The company signaled confidence in maintaining growth while leveraging its high-performance computing infrastructure and AI expertise.
Hive’s stock fell 2.9% in premarket trading Tuesday following the earnings report, reflecting investor caution despite the revenue milestone.
