HIVE Digital Technologies and MARA Holdings reported higher Bitcoin production but lower mining revenue in the September quarter than a year earlier. HIVE mined 1,070 BTC, up 49%, while mining revenue fell 7.4% to $76 million. MARA mined 2,247 BTC, up 5%, while mining revenue fell 34% to $159 million. The report attributed the revenue declines to weaker Bitcoin prices despite higher production.
Both companies also reported higher energy costs and equipment write-downs. MARA reported $634.4 million in net income attributable to common stockholders, including substantial fair-value gains on digital assets and receivables, while HIVE reported a quarterly loss. Both are continuing to invest in mining alongside AI infrastructure; HIVE anticipates spending up to $493 million over 36 months on its high-performance computing expansion.
