Business
HIVE Blockchain Q3 F2023 Results Earnings Webcast
Vancouver, British Columbia--(Newsfile Corp. - February 28, 2023) - HIVE Blockchain Technologies ...
About this update from Hive Digital Technologies Ltd
[{"type":"text","content":"HIVE Blockchain Q3 F2023 Results Earnings WebcastVancouver, British Columbia--(Newsfile Corp. - February 28, 2023) - HIVE Blockchain Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: HBFA) (the \"Company\" or \"HIVE\") pleased to announce that our fiscal Q3 earnings webcast for the three and nine months ended December 31, 2022 is now available.This release represents the first full quarter after the Ethereum Merge, which negatively impacted HIVE's revenue and mining margins.However, the Company maintained a positive mining margin and grew Bitcoin production year-over-year, despite a 60% increase in mining difficulty.Additionally, HIVE saw rapid growth in its high-performance computing (HPC) business line, which utilizes our powerful GPUs. This business reached a $1.3 million run rate, and management sees significant room for growth in this area. HIVE operates a fleet of powerful NVIDIA 80GB commercial GPUs, and with the recently advances in artificial intelligence (AI), such industrial GPUs are in high demand. Highlights:13% YoY increase in Bitcoin mined, despite ~60% difficulty increase$3.6 million gross mining marginBitcoin holdings increased 30% YoYPre-tax net loss of $90 million due to impairment in value of ASIC's, GPU's and digital currencies Reached $1.3 million run rate for HPC/AI operationsSelect slides from the presentation:Figure 1To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/5335/156599_41fcf50ed4ef9a36_001full.jpgFigure 2To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/5335/156599_41fcf50ed4ef9a36_002full.jpgFigure 3To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/5335/156599_41fcf50ed4ef9a36_003full.jpgView the full presentation on YouTube. About HIVE Blockchain Technologies Ltd.HIVE Blockchain Technologies Ltd. went public in 2017 as the first cryptocurrency mining company with a green energy and ESG strategy.HIVE is a growth-oriented technology stock in the emergent blockchain industry. As a company whose shares trade on a major stock exchange, we are building a bridge between the digital currency and blockchain sector and traditional capital markets. HIVE owns state-of-the-art, green energy-powered data centre facilities in Canada, Sweden, and Iceland, where we source ...