HIVE Digital Technologies Ltd Stock Price, News & Analysis

HIVE Digital Technologies (NASDAQ: HIVE) reported its August 2024 production results, mining 112 Bitcoin and increasing its total Bitcoin holdings by 1% to 2,533 BTC. The company maintained an average mining capacity of over 5.0 Exahash per second (EH/s) throughout the month. HIVE also announced the acquisition of 1,000 Bitmain S21 Pro Antminers for immediate delivery to upgrade its existing equipment.

Key highlights include:

• A blended fleet efficiency of 23 joules per terahash (J/TH)
• Average daily production of 3.6 BTC
• Bitcoin HODL value exceeding $164 million as of August 31, 2024

HIVE Digital Technologies (NASDAQ: HIVE) reported its Q1 F2025 results, ending June 30, 2024. The company achieved $32.2 million in revenue, including $29.6 million from digital currency mining and $2.6 million from high-performance computing (HPC) operations. HIVE mined 449 Bitcoin during the quarter, with a gross operating margin of $11.4 million (35%). The company's Adjusted EBITDA was $14.9 million, with a net income of $4.2 million before tax.

HIVE increased its Bitcoin mining ASIC hashrate by 4% to 4.9 Exahash and ended the period with 2,496 Bitcoin on its balance sheet, valued at $153.9 million. The company successfully navigated the Bitcoin Halving event by upgrading its ASIC miners. HIVE is also planning to convert 30 MW of existing Bitcoin mining capacity to Tier 3 infrastructure for GPU operation, potentially yielding 20 MW of Tier 3 compute within 6-9 months.

HIVE Digital Technologies (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0.F), a pioneer in green energy-powered blockchain infrastructure, has announced the release of its Q1 2025 financial results on August 13, 2024, after market close. The company will host an earnings conference call and webcast at 5:00 PM EST on the same day.

Investors can join the webcast at https://events.q4inc.com/attendee/967547519 or dial in at (800) 267-6316 with Access ID: HIVEQ1. A replay will be available until August 27, 2024, by dialing (888) 562-0906 with Access ID: 26148. The earnings release will be accessible on HIVE's investor relations website.

HIVE Digital Technologies (TSXV: HIVE) (NASDAQ: HIVE) reported its unaudited production figures for July 2024. The company mined 116 Bitcoin, increasing its Bitcoin holdings by 2% to a total of 2,533 Bitcoin on the balance sheet. HIVE maintained an average Bitcoin mining capacity of over 4.7 Exahash (EH/s) in July.

Key highlights include:

• Mining efficiency of 24.6 Bitcoin per Exahash
• Average daily production of 3.7 BTC
• Bitcoin HODL value of over $164 million as of July 31, 2024

The company has purchased 9,500 new generation ASIC miners, representing approximately 2 EH/s of additional Bitcoin mining capacity. This will bring HIVE's total installed Bitcoin mining capacity to 5.5 EH/s with a global average fleet efficiency of 24.5 J/TH.

HIVE Digital Technologies has entered into definitive agreements for a 100 MW digital asset mining operation in Paraguay, utilizing green energy from the Itaipu hydroelectric dam. The company aims to increase its global Bitcoin mining capacity to 12.1 EH/s. However, HIVE has reduced its initial investment plans due to a proposed 14% energy tariff increase for Bitcoin data centers in Paraguay.

HIVE's President and CEO, Aydin Kilic, expressed pride in the acquisition of the 100 MW PPA, while Executive Chairman Frank Holmes emphasized the importance of stable fiscal policies for attracting foreign investment. The company's investment is expected to provide over $100 million in U.S. dollar revenue to Paraguay over three years, along with creating local jobs and infrastructure development.

HIVE Digital Technologies (TSXV: HIVE) (NASDAQ: HIVE) has announced plans to construct a 100 megawatt digital asset mining operation in Paraguay, utilizing green energy from the Itaipu hydroelectric dam. This project is expected to add up to 6.5 Exahash per second (EH/s) to HIVE's Bitcoin mining operations, potentially increasing their global hashrate to 12.1 EH/s. The company aims to generate over $100 million in stable U.S. dollar revenue for Paraguay's utility company over the next three years.

HIVE has also acquired 500 Bitmain S21 Pro Antminers, expecting to increase its total operational hashrate to 5.6 EH/s. As of July 21, 2024, HIVE's HODL position increased to 2,521 BTC, valued at over $170 million. The company has granted 2,491,000 restricted share units (RSUs) to employees, officers, directors, and eligible consultants to align interests with long-term success.

HIVE Digital Technologies announces its production of 119 Bitcoin for June 2024, increasing its Bitcoin holdings by 2% to a total of 2,496 BTC. The company maintained an average mining capacity of over 4.7 Exahash per second (EH/s) and ended June with a 4.9 EH/s capacity. Daily production averaged at 4.0 BTC. As of July 7, 2024, HIVE's Bitcoin holdings rose to 2,503 BTC, valued at over $140 million. HIVE is also set to receive 2,150 upgraded S21 Pro miners, expected to boost its total hashrate to 5.5 EH/s by the end of July.

HIVE Digital Technologies reported fiscal year 2024 results, achieving a revenue of $114.5 million, including $111 million from digital currency mining and $3.4 million from HPC operations. HIVE mined 3,123 Bitcoin and ended the year with 2,287 Bitcoin on the balance sheet, valued at $161.3 million. The company reported an adjusted EBITDA of $37.5 million but faced a net loss of $51.2 million, primarily due to $66.4 million in depreciation and a $6.8 million provision for sales tax receivables. Gross operating margin contracted to $40.4 million from $50.9 million in the previous fiscal year. HIVE expanded its Bitcoin mining ASIC hashrate by 57% to 4.7 Exahash. Additionally, working capital increased by $98.5 million due to higher Bitcoin prices. Despite significant non-cash charges, HIVE earned a comprehensive income of $25 million, which includes a $77.3 million gain from revaluation of digital currencies.

HIVE Digital Technologies (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0), known for its green energy-powered blockchain infrastructure, will release its financial results for the fiscal year ending March 31, 2024, on June 24, 2024, after market close. Investors can access the earnings report on HIVE's investor relations website. Additionally, a pre-recorded earnings webcast will be made available on June 25, 2024, at 6:30 AM EDT on both the company’s website and YouTube channel.