NEWS - Earnings Report
HIVE Achieves Annual Revenue of $114.5 Million, Adjusted EBITDA of $37.5 Million with 2,287 Bitcoin on the Balance Sheet and Mined 3,123 Bitcoin for the Year Ended March 31, 2024
Positive
▪️Revenue increased by 8% to $114.5 million.
▪️HIVE mined 3,123 Bitcoin during the fiscal year.
▪️Working capital increased by $98.5 million.
▪️Company reported an adjusted EBITDA of $37.5 million.
▪️Comprehensive income of $25 million, including a $77.3 million gain from revaluation of digital currencies.
▪️Bitcoin mining ASIC hashrate grew by 57% to 4.7 Exahash.
▪️Revenue increased by 8% to $114.5 million.
▪️HIVE mined 3,123 Bitcoin during the fiscal year.
▪️Working capital increased by $98.5 million.
▪️Company reported an adjusted EBITDA of $37.5 million.
▪️Comprehensive income of $25 million, including a $77.3 million gain from revaluation of digital currencies.
▪️Bitcoin mining ASIC hashrate grew by 57% to 4.7 Exahash.
Negative
▪️Net loss of $51.2 million for fiscal year 2024.
▪️Gross operating margin declined to $40.4 million from $50.9 million.
▪️Significant non-cash charges: $66.4 million depreciation and $6.8 million provision for sales tax receivables.
▪️SG&A expenses totaled $13.2 million.
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