HIVE Digital Technologies has added 79 Bitcoin to its treasury during the September quarter, lifting its holdings to 269 BTC while Riot Platforms and CleanSpark have reduced their reserves.
Summary
- HIVE added 79 BTC to its treasury while selling roughly 93% of quarterly mining production.
- Riot sold 10,599 BTC during Q3 as Bitcoin sales helped finance data center development.
- CleanSpark sold or delivered 2,102 BTC against production of 1,708 BTC across July through September.
- HIVE’s HPC revenue reached $8.8 million, with GPU financing supporting its planned AI deployments.
HIVE’s SEC filing, released alongside its Nov. 9 results, recorded 269 BTC as of Sept. 30, compared with 190 BTC in its June filing. The period is calendar Q3 and the company’s fiscal second quarter of 2027.
HIVE’s Bitcoin treasury grows despite substantial sales
Comparing the two filings shows that HIVE mined 1,070 BTC and sold 991 BTC during July through September. Its reserve grew by 41.6%, while net additions represented 7.4% of the coins produced over those three months.
The sales calculation subtracts 918 BTC sold in the June quarter from 1,909 BTC sold during the six months ended September. Against quarterly production, the resulting 991 BTC amounts to a sales-to-production ratio of approximately 92.6%.
The September filing reported $70 million in proceeds from digital currency sales during the three-month period.
Across the full six-month period, HIVE’s Bitcoin balance rose from 150 BTC to 269 BTC. Its digital currency reconciliation recorded 2,074 BTC mined, 1,909 BTC sold, and 46 BTC transferred as equipment deposits.
The September filing valued the Bitcoin reserve at $22.4 million. Separately, HIVE held options to repurchase 212 BTC previously transferred for equipment deposits; those contractual rights were reported apart from its owned Bitcoin.
Riot sells Bitcoin to fund data center development
Riot’s quarterly filing disclosed sales of 20,264 BTC during the first nine months of 2026, generating nearly $1.5 billion. Subtracting the 9,665 BTC sold in its first-half filing gives Q3 sales of 10,599 BTC.
With 2,418 BTC remaining at September-end, management said the sales primarily funded data center development and full repayment of a $200 million credit facility. Riot expects to continue selling substantially all Bitcoin it mines for development, operating expenses, and working capital.
In its Nov. 4 coverage, crypto.news reported that Riot had completed its Bitcoin custody transfer from NYDIG to BitGo on Oct. 29. The company incurred no early termination penalties.
MARA’s separately disclosed post-quarter Bitcoin sale involved 13,597 BTC for approximately $1.1 billion. Of those proceeds, $750 million repaid Bitcoin-backed loans, releasing 17,477 BTC pledged as collateral.
CleanSpark sells more Bitcoin than it mines
CleanSpark’s monthly operational figures show production of 586 BTC in July, 593 BTC in August and 529 BTC in September. Sales and deliveries totaled 579 BTC, 821 BTC and 702 BTC, respectively.
Across those months, 2,102 BTC left the treasury against 1,708 BTC produced. Holdings fell by 394 BTC to 13,530 BTC, including 3,475 BTC posted as collateral or recorded as receivables related to derivatives.
The September transactions comprised just 2 BTC sold on spot markets and 700 BTC delivered through call option exercises. Earlier coverage detailed how those sales exceeded production by 173 BTC that month.
For its Sandersville data center, CleanSpark secured $2.276 billion through senior secured notes carrying a 7.875% coupon and maturing in 2031. CEO Matt Schultz said the project was “fully funded through completion.”
Cipher Digital’s Bitcoin disclosure recorded 310 BTC at September-end, down from 646 BTC in June. Its first nine months brought $168.9 million in Bitcoin sale proceeds. In its Q3 update, Cipher said it had recognized its first HPC lease revenue after rent began at Black Pearl. The company reported that more data halls at Black Pearl and Barber Lake were scheduled to come online through year-end.
HIVE expands AI computing alongside mining
In its earnings release, HIVE reported mining revenue of $76 million, down 7.4% year over year, while HPC revenue rose 70.7% to $8.8 million. Total revenue was $84.9 million, with a $78.7 million net loss.
The Nasdaq- and Toronto-listed company reported $139 million in cash. CEO Aydin Kilic said $129 million in financing covered GPU purchases for its Bell and Cohere agreement.
HIVE reported approximately $40 million in live GPU cloud annualized run-rate revenue and $185 million contracted, including capacity awaiting deployment. Kilic said the 2,304-GPU cluster was expected to ship before year-end, with lender funds released from escrow as milestones were met.
