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HIVE Digital: power cost and cost per bitcoin, 2026

Energy estimated from the hashrate that ran × 16.8/16.1 J/TH. Swedish VAT provision left out of operating cost. Energy estimated from the bitcoin it mined.

Cost per kWh, quarter by quarter

PeriodEnergy (MWh)Power ¢/kWhAll-in ¢/kWhLoaded ¢/kWh
Q1 2026799,552 est.5.7¢ est.6.4¢ est.7.5¢ est.
Q2 2026861,333 est.5.3¢ est.5.9¢ est.6.9¢ est.
H1 20261,660,885 est.5.5¢ est.6.2¢ est.7.2¢ est.

What a bitcoin cost them

PeriodBitcoin minedPower $/BTCAll-in $/BTCLoaded $/BTCRevenue $/BTC
Q1 2026876$51,700$58,600$68,600$76,700
Q2 20261,004$45,700$50,800$59,000$71,800
H1 20261,880$48,500$54,400$63,500$74,100

The hardware

PeriodDepreciationImpairmentsSpending on machines
Q1 2026$52.7m$0m$26.2m
Q2 2026$53.7m$0m$31m
H1 2026$106.4m$0m$57.2m

Full analysis, with every filing linked · All public miners

This is our analysis of the company's public filings, not an audit in the accounting sense, and it is not investment advice. Mining output depends on bitcoin's price, difficulty and uptime, and isn't guaranteed.