HIVE Digital Technologies and MARA Holdings reported mining more Bitcoin in the September quarter than a year earlier, but earning less from mining as weaker Bitcoin prices outweighed the production gains. Regulatory filings show HIVE’s output rose 49% to 1,070 BTC while mining revenue fell 7.4% to $76 million. MARA’s output rose 5% to 2,247 BTC while mining revenue fell 34% to $159 million.
Both reported higher energy costs and equipment write-downs. HIVE reported a quarterly loss, while MARA’s $634.4 million profit included substantial fair-value gains on digital assets and related receivables. Both companies are continuing to invest in Bitcoin mining alongside AI infrastructure.
