HIVE Digital Technologies Ltd Stock Price, News & Analysis

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.

HIVE Digital Technologies announced its May 2024 Bitcoin production, reporting a 3% increase in Bitcoin holdings to 2,451 BTC and maintaining positive operating margins.

The company mined 119 BTC in May, achieving an average mining capacity of over 4.9 EH/s. HIVE's daily production averaged 3.8 BTC, highlighting operational efficiency.

HIVE plans to acquire 1,000 new Bitmain S21 Pro Antminers, enhancing its mining capacity and efficiency. The company remains focused on lean operations and profitable mining, despite market challenges.

HIVE Digital Technologies announces its Bitcoin production for April 2024, mining 212 Bitcoin and increasing its holdings to 2,377 BTC. The company achieved a 6% increase in mining capacity and a 4% growth in HODL position. With a focus on operational efficiency and shareholder value, HIVE is strategically preparing for increased BTC demand and optimizing its mining capabilities.