Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»ADOPTION NEWS»HIVE Digital Ends Fiscal Year with 8% Increase in Revenue and $141 Million in Bitcoin
ADOPTION NEWS

HIVE Digital Ends Fiscal Year with 8% Increase in Revenue and $141 Million in Bitcoin

By Crypto FlexsJune 25, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
HIVE Digital Ends Fiscal Year with 8% Increase in Revenue and 1 Million in Bitcoin
Share
Facebook Twitter LinkedIn Pinterest Email

HIVE Digital Technologies reported 8% year-over-year revenue growth on Tuesday to $114.5 million, beating analysts’ estimates by about $2.7 million.

HIVE’s total operating margin for the fiscal year ended March 31, 2024 was $40.4 million, or 35% of revenues, and for fiscal 2023 it was $50.9 million, or 48% of revenues. The decline was mainly due to increased Bitcoin network difficulties compared to previous years, along with rising Bitcoin prices, the company said.

​​Other than the company’s HPC operations, revenue from digital currency mining was $111 million, with a total operating margin of $40.3 million, or a 36% operating margin. HIVE achieved adjusted EBITDA of $37.5 million in the fiscal year.

HIVE’s net loss in fiscal 2024 was $51.2 million, compared to a net loss of $236.4 million in the prior year. That was a loss of 57 cents per share, 10 cents better than analysts had expected.

HIVE increased the Bitcoin mining ASIC hash rate by 57% from 3.0 Exahash in March 2023 to 4.7 Exahash in March 2024. During the entire fiscal year, the company mined 3,123 bitcoins, including digital assets mined on GPUs.

The company had 2,287 Bitcoins worth $161.3 million on its balance sheet as of March 31, 2024.

“Investors should recognize that the Bitcoin mining industry has grown to over 20 public Bitcoin mining stocks today, compared to about 5 during the last halving,” said Frank Holmes, Chairman of HIVE. .

“We have been using our operating cash flow to strategically and thoughtfully upgrade and expand our Bitcoin mining ASIC family while leading the industry with the lowest G&A and lowest share dilution,” said HIVE President Aydin Kilic. Aydin Kilic said. “This is made possible through our commitment to maintaining high uptime, lean operations and driving efficiency in all aspects of our operations.”

Killik also highlighted that in Sweden, the company is demonstrating innovative demand response practices and analyzing Bitcoin mining economics to ensure the most efficient and profitable machines are operating even during economic downturns.

Shares of HIVE (ticker HIVE) were up nearly 9.5% at $3.21 per share at the time of publication, according to Yahoo Finance.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025

Gala Games improves leader board rewards and introduces preference systems.

June 20, 2025

Ether Leeum Whale starts a $ 11 million leverage betting in the 30% increase in ETH prices.

June 12, 2025
Add A Comment

Comments are closed.

Recent Posts

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025
Most Popular

Top 10 Cryptocurrency Hacks and Exploits of 2023

January 1, 2024

Ditch UNI and buy PEPE. Is it a memecoin and not DeFi?

April 30, 2024

Rick O’Connell isn’t around to save you in The Cursed King slot

February 23, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.