HIVE Digital Technologies reported a 49% increase in Bitcoin production for the September quarter, producing 1,070 Bitcoin compared to 718 a year earlier. However, mining revenue fell by 7.4% to $76 million due to lower Bitcoin prices, which averaged $71,003, down from $114,382 in the prior-year period. The company also faced rising electricity costs, which increased to $45.6 million from $37.9 million. Despite these challenges, HIVE's AI hosting business grew by 71%, contributing $8.8 million to its quarterly revenue. HIVE plans to invest up to $493 million over the next 36 months to expand its HPC operations and continues to target mining infrastructure growth.

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HIVE Reports 49% Increase in Bitcoin Production Amid Falling Revenue
CointelegraphOriginal source · cointelegraph.com
