HIVE Digital Posts $78.7M Net Loss as Mining Revenue Falls to $76M

Cointime reports: HIVE Digital Technologies reported a net loss of $78.7 million for its fiscal second quarter ended Sept. 30, compared with a $15.8 million loss a year earlier, on revenue of $84.9 million, down 2.7% year over year. The bitcoin miner earned 1,070 BTC in mining rewards, up from 718 a year earlier, but mining revenue fell to $76 million from $82.1 million, which the company attributed mainly to a lower average bitcoin price for the quarter. Its BUZZ high-performance computing business posted $8.8 million in revenue, up 70.7%, while HIVE recorded a $31.2 million impairment on mining equipment.