HIVE Digital Technologies Ltd reported a robust top-line expansion in QQ2 2026, with revenue of $87.25 million, up 170.7% year over year and 91.3% quarter over quarter. Gross profit reached $42.40 million, yielding a gross margin of approximately 48.6%, signaling favorable mix and scale in data-center operations and mining activities. Notwithstanding the revenue acceleration, GAAP profitability remained negative: operating income was -$14.78 million and net income was -$15.80 million, resulting in an EPS of -$0.069. EBITDA stood at $29.77 million with an EBITDA margin of about 34.1%, indicating a meaningful contribution from core operations but offset by substantial depreciation of $38.93 million and sizable other expenses totaling $43.91 million. The contrast between EBITDA strength and GAAP losses suggests that non-cash charges and one-time items are sizable in this quarter. Looking forward, the sustainability of profitability will depend on crypto-cycle dynamics, capacity utilization, energy costs, and ongoing cost discipline. In the absence of formal forward guidance, investors should monitor crypto price trends, data-center utilization, and efficiency initiatives as primary catalysts for earnings progression.