HIVE, MARA mine more Bitcoin but earn less as crypto prices fall
Summary
HIVE and MARA mined more Bitcoin in the September quarter than a year earlier, but lower Bitcoin prices and higher operating costs reduced mining revenue. HIVE production rose 49% to 1,070 BTC while mining revenue fell 7.4% to $76 million; MARA production increased 5% to 2,247 BTC as mining revenue dropped 34% to $159 million. Both recorded equipment write-downs. They are expanding AI and high-performance computing businesses while continuing to invest in mining. HIVE’s HPC revenue grew 71% to $8.8 million and it plans major infrastructure spending. MARA reported $634.4 million in net income, boosted by fair-value gains on digital assets, despite revenue falling 35% to $164.2 million.
