HIVE Digital Technologies Ltd delivered a standout quarterly revenue performance in QQ2 2026, with revenue of USD 87.25 million, up 170.6% year-over-year and 91.3% quarter-over-quarter. The quarter features a strong gross margin of 48.6%, and EBITDA of USD 29.77 million, signaling solid operating leverage on higher mining activity. However, the company posted a net loss of USD 15.80 million and an operating loss of USD 14.78 million, driven by substantial non-operating charges (other expenses of USD 43.91 million) and explicit operating costs that eclipsed EBITDA contributions in the period. In essence, while the core mining economics are healthy (substantial gross profit and positive EBITDA), non-cash or non-recurring items suppress bottom-line profitability in QQ2 2026.
Management commentary (where available) typically emphasizes scaling hash rate, optimizing energy efficiency, and geographic diversification to manage power costs. The data imply a company continuing to balance top-line growth with discipline around structural costs, even as one-off items mask earnings quality. For investors, the key takeaway is the potential for improved net profitability if non-core charges moderate and fixed-cost leverage continues to materialize as revenue compounds. The equity remains highly sensitive to crypto-price cycles and energy costs, but the current quarter provides a proof-of-concept for operating leverage within HIVE’s mining footprint.