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RETRANSMISSION: HIVE Delivers Record Q3 Revenue of $93.1 Million with $32.1 Million Gross Operating Margin, Up Over 6x Year-Over-Year
This news release constitutes a "designated news release" for the purposes of the Company's prosp...
About this update from Hive Digital Technologies Ltd
[{"type":"text","content":"RETRANSMISSION: HIVE Delivers Record Q3 Revenue of $93.1 Million with $32.1 Million Gross Operating Margin, Up Over 6x Year-Over-YearThis news release constitutes a \"designated news release\" for the purposes of the Company's prospectus supplement dated November 25, 2025 to its short form base shelf prospectus dated October 31, 2025.San Antonio, Texas--(Newsfile Corp. - February 17, 2026) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (BVC: HIVECO) (referred to as the \"Company\" or \"HIVE\"), a global leader in sustainable data center infrastructure, announced its results for the third quarter ended December 31, 2025 (all amounts in US dollars, unless otherwise indicated).HIVE delivered record quarterly revenue of $93.1 million, representing 219% year-over-year growth and 7% quarter over quarter growth, and Adjusted EBITDA of $5.7 million. Gross operating margin expanded significantly to $32.1 million (34.5%), up more than sixfold compared to $5.3 million in the prior year period.This quarter marks the strongest \"dual-engine\" growth in HIVE's history, driven by the rapid scale-out of its Bitcoin hashrate fleet to an installed base of 25 Exahash per Second (\"EH/s\") by period end December 31, 2025 and accelerating demand for BUZZ HPC platforms.Q3 FY2026 Financial Highlights:Total Revenue: $93.1 million, a 219% increase from $29.2 million in Q3 FY2025 and a 7% increase over last quarter. Gross operating margin was $32.1 million or 35%3, up from 18% in fiscal Q3 FY2025. See the calculation of direct costs and mining margin included below in this press release.Digital Currency Hashrate Revenue: $88.2 million, up 8% from Q2 FY2026, reflecting a 41% quarter-over-quarter increase in average hashrate to 22.9 EH/s, partially offset by approximately 10% lower Bitcoin prices and 15% higher network difficulty. This hashrate revenue was achieved at a direct cost of $57.8 million, of which approximately 90% is energy costs. See the calculation of direct costs included below in this press release.Bitcoin Output: Generated 885 Bitcoin, representing a 23% quarter over quarter increase, despite a 15% rise in network difficulty.HPC Revenue: BUZZ HPC revenue was $4.9 million during the quarter. This revenue was achieved against direct costs of $2.3 million.G&A: $8.4 million, up from $7.8 million in Q2 2026, primari...