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    3. HIVE Delays Submission of Quarterly Report, Preliminary Revenue Approximately $79 Million

    HIVE Delays Submission of Quarterly Report, Preliminary Revenue Approximately $79 Million

    By: rootdata|2026/08/13 01:24:24
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    HIVE Digital Technologies did not submit its quarterly Form 10-Q for the period ending June 30 by August 10, with preliminary revenue of approximately $79 million. In a notice of delay issued on August 11, the company stated that the delay is related to the accounting treatment and disclosure of a Swedish VAT (Value Added Tax) ruling, and it expects to submit the document within the extended deadline under Rule 12b-25. HIVE indicated that recent developments in the Swedish proceedings have increased the likelihood of confirming non-cash accounting adjustments, requiring more time to determine the accounting amounts and complete the financial statements and disclosures. The preliminary revenue for the quarter represents an increase of approximately 73% compared to $45.6 million in the same period last year, primarily due to increased Bitcoin rewards and the recognition of revenue from high-performance computing contracts. However, these figures remain management estimates and may change upon completion of the report. HIVE expects operating losses and net losses to increase significantly, mainly due to the impact of the Swedish VAT, but cannot reasonably estimate these values. The net profit for the comparable quarter was $35 million. In its annual filing for fiscal year 2026, HIVE disclosed that the total Swedish VAT ruling amounts to 765.6 million Swedish Krona, approximately $80.5 million, emphasizing that this total should not be viewed as a potentially recognized accounting amount, as it has not yet been determined.

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