HIVE and MARA report higher Bitcoin production, revenues fall as prices weaken

HIVE Digital Technologies and MARA Holdings increased their Bitcoin mining output in the September quarter compared to the same period last year, but both companies reported declining mining revenues as lower Bitcoin prices offset gains in production. In recent regulatory filings, HIVE reported a 49% year-on-year increase in Bitcoin production, generating 1,070 BTC during the September quarter. However, its mining revenue decreased 7.4% to $76 million. MARA Holdings recorded a more modest 5% increase in production, reaching 2,247 BTC, but its mining revenue dropped sharply by 34% to $159 million. Both firms experienced rising energy and equipment expenditures.