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HIVE Blockchain Reviews Quarterly Revenues of $52.6 Million

Picture: FM

HIVE Blockchain Applied sciences lately printed its monetary metrics for the quarter ended 30 September 2021. The corporate reported record-breaking revenues and earnings amid a leap within the worth of Bitcoin and Ethereum.

HIVE’s income within the current quarter reached $52.6 million, which is up 305% in comparison with the identical interval final yr. Moreover, the corporate’s web revenue noticed a pointy rise of 549% YoY within the newest quarter. Within the quarter ended 30 September 2021, HIVE mined 656 Bitcoin and greater than 8,688 Ethereum.

So far as HIVE’s crypto holdings are involved, the corporate now has 1,116 Bitcoin price greater than $48 million. Furthermore, the corporate holds 25,154 Ethereum with a complete worth of virtually $75 million.

“We want to thank our loyal shareholders for believing in our imaginative and prescient to mine each Ethereum and Bitcoin to generate sturdy money stream returns on invested capital and consider this report validates the numerous contribution to our technique to mine each BTC and ETH and HODL as many cash as doable,” Frank Holmes, HIVE’s Government Chairman, commented on the outcomes.

Crypto Mining

Along with robust monetary outcomes, HIVE has labored on the enlargement of its crypto mining capability in the previous couple of months. The corporate invested closely within the crypto mining machines and the general infrastructure. HIVE additionally introduced a number of strategic investments this yr together with the agency’s current funding in Community Leisure.

“The Firm is nearing completion of two further knowledge facilities at its New Brunswick, Canada campus. Building started on this web site in July 2021 and has progressed largely on schedule, regardless of provide chain delays. The primary of the 2 new knowledge facilities are anticipated to be commissioned by mid-December 2021 and the second in March 2022. Through the second fiscal quarter, HIVE invested closely in new Bitcoin miners to refill these new knowledge facilities. At quarter-end, the corporate had greater than 16,000 new BTC miners on order,” HIVE highlighted within the press launch.

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