. June 24, 2024 6:00 AM EDT | Source: HIVE Digital Technologies Ltd. About HIVE Digital Technologies Ltd. Competitive Advantage: We believe this environmentally conscious approach sets HIVE apart from competitors and aligns with evolving investor preferences. HIVE's unique value proposition encompasses efficient operations, a proven agile management team, financial strength, environmental sustainability, and innovative expansion strategies. Beyond Bitcoin mining, HIVE is firmly part of the global boom in da ...

● ● . | --- | --- | |--------------------------------------------------|-------| | | | | HIVE Digital Technologies to Release Fiscal Year | | | 2024 Financial and Operational Results and | | | Webcast on June 25, 2024 | | June 24, 2024 1:00 AM EDT | Source: HIVE Digital Technologies Ltd. Vancouver, British Columbia--(Newsfile Corp. - June 24, 2024) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the "Company" or "HIVE"), a pioneer in green energy-powered blockchain infrastructure, i ...

Highlighting the company's performance in May 2024, Holmes discussed Hive's achievement of mining 119 Bitcoin during the month, marking a 3% increase in its Bitcoin holdings to a total of 2,451 BTC. Proactive: There's exciting news from the company regarding your production last month. With significant concerns surrounding the 'halving', let's start there. People are wondering how companies will respond to this, and it seems your company has performed admirably. Could you elaborate on that? Could you explai ...

Jamie Ashcroft, the News Editor for Proactive UK, has developed an impressive career in financial journalism, focusing on the small-cap sector for over fourteen years. Before joining the Proactive team, he was a stockbroker during the global financial crisis, a role that complemented his educational background - a firstclass degree in Business and Economics and qualifications in software design and development. As one of the early external hires at Proactive in 2009, Jamie contributed... Read more Proactive ...

About this content About William Farrington William kickstarted his career as a researcher and reporter for a global legal publication, covering everything from public law to M&A. Before moving to Proactive Investors, he worked as a reporter for a major fintech company with a focus on cryptocurrency and blockchain technology. Harking from Queensland, Australia, William obtained first-class honours in journalism and media from Birkbeck University before going on to complete an MA in creative and critical ...

After Friday’s “halving” event, which cut Bitcoin (BTC-USD) block rewards from 6.25 bitcoins to 3.125 bitcoins, miners are even more important to the cryptocurrency ecosystem.The three miners we’ll explore are looking to improve their efficiency by updating their all-in sustaining costs (AISCs) and optimizing their firmware; they also come with upside potential going up to 127%. Under the new reward system, raising the hash rate per unit of energy can increase your profits.Due to the lower profit margin, bi ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

About this content About William Farrington William kickstarted his career as a researcher and reporter for a global legal publication, covering everything from public law to M&A. Before moving to Proactive Investors, he worked as a reporter for a major fintech company with a focus on cryptocurrency and blockchain technology. Harking from Queensland, Australia, William obtained first-class honours in journalism and media from Birkbeck University before going on to complete an MA in creative and critical ...

Financial Performance - Revenue from digital currency mining for Q3 2023 was $30,115,000, a 110.5% increase from $14,318,000 in Q3 2022[3] - Net loss for the period was $6,951,000 in Q3 2023, compared to a net loss of $93,459,000 in Q3 2022, indicating a significant reduction in losses[3] - For the nine months ended December 31, 2023, the net loss was $47,751,000, a significant improvement from a net loss of $243,143,000 in the same period of 2022[5] - Revenue recognized from digital currency mined decreased to $75,973,000 from $88,094,000 year-over-year, reflecting a decline of approximately 14%[5] - The company reported a revaluation gain on digital currencies of $19,352,000 in Q3 2023[3] - Basic loss per share improved to $(0.08) in Q3 2023 from $(1.13) in Q3 2022[3] Assets and Equity - Total assets increased to $231,235,000 as of December 31, 2023, up from $196,117,000 as of March 31, 2023, representing a 17.9% growth[2] - The company reported a total equity of $180,053,000 as of December 31, 2023, an increase from $148,815,000 as of March 31, 2023, reflecting a 20.9% rise[2] - Digital currencies held by the company amounted to $71,894,000 as of December 31, 2023, compared to $65,899,000 as of March 31, 2023, showing an increase of 9.1%[2] - The carrying amount of plant and equipment increased to $306.1 million as of December 31, 2023, from $256.4 million as of March 31, 2023, reflecting a growth of approximately 19%[35] Cash Flow and Investments - Cash provided by operating activities was $33,302,000, down from $46,839,000 in the previous year, indicating a decrease of about 29%[5] - The company reported cash used in investing activities of $64,648,000, compared to $40,752,000 in the prior year, representing an increase of approximately 58%[5] - Cash provided by financing activities was $44,758,000, a turnaround from cash used of $2,567,000 in the same period last year[5] - As of December 31, 2023, the company held investments totaling $6,900,000, up from $2,866,000 at the end of the previous fiscal year[28] Costs and Expenses - Operating and maintenance costs for Q3 2023 were $19,963,000, up from $10,703,000 in Q3 2022, representing an increase of 86.5%[3] - The total cost of sales was $19.96 million, a significant increase from $10.70 million in the same period of 2022, representing an increase of 86.5%[82] - Digital currency mining costs for the nine months ended December 31, 2023, were $51.93 million, compared to $41.52 million in the same period of 2022, reflecting a year-over-year increase of 25.0%[82] Shareholder Actions - The company issued 7,549,840 shares in a recent offering, raising $30,302,000[4] - The company issued 1,374,700 common shares under the May 2023 ATM Equity Program for gross proceeds of $6.8 million[65] - Under the August 2023 ATM Equity Program, the company issued 6,175,140 common shares for gross proceeds of $24.4 million[65] - The company completed a bought-deal financing of 5,750,000 special warrants at a price of C$5.00 per warrant, raising aggregate gross proceeds of C$28.75 million[71] Liabilities and Provisions - The company recorded a provision of $4.9 million for uncertain collectability of sales tax receivables as of December 31, 2023[30] - The company is facing a contingent VAT liability of approximately $40.9 million from the Swedish Tax Authority, related to VAT assessments for the period from December 2020 to December 2022[57] - The liability component of the convertible loan decreased to $3.9 million as of December 31, 2023, down from $4.7 million as of March 31, 2023[43] Digital Currency Holdings - The company’s Bitcoin holdings were valued at $71.7 million as of December 31, 2023, with a total of 1,704 coins[32] - The company’s Ethereum Classic holdings increased to 124, with a total of 5,746 coins as of December 31, 2023[32] - The total value of digital currencies held by the company increased to $71.9 million as of December 31, 2023, up from $65.9 million as of March 31, 2023, representing an increase of approximately 3%[32] Market and Operational Risks - The company continues to face challenges related to the global supply chain, including increased shipping costs and delays in obtaining equipment from suppliers[10] - Digital currencies held by the company are subject to significant price risk, with their values being highly volatile and influenced by various market factors[107] - The company does not hedge the conversion of any of its coin sales or future mining of digital currencies, exposing it to market price fluctuations[125] - Regulatory actions in various jurisdictions, such as China’s ban on digital currencies, could adversely affect the digital asset market and the Company's operations[122] Strategic Developments - The company incorporated a wholly owned subsidiary, Bikupa Real Estate AB, on May 24, 2023, to facilitate the acquisition of a data center[8] - The company acquired a data center in Sweden on November 29, 2023, for a total consideration of $2,376, which includes cash payment of $647 and shares issued valued at $1,089[135] - The next Bitcoin halving is expected in April 2024, which could significantly impact the Company's profitability if Bitcoin prices do not adjust favorably[120]

HIVE Digital Technologies Ltd. (formerly, HIVE Blockchain Technologies Ltd.) Condensed Interim Consolidated Financial Statements For the three and six months ended September 30, 2023 and 2022 (In thousands of U.S. dollars) (Unaudited) HIVE Digital Technologies Ltd. (formerly, HIVE Blockchain Technologies Ltd.) Condensed Interim Consolidated Statements of Financial Position (In thousands of US dollars) (Unaudited) | | | | September 30, | | March 31, | | --- | --- | --- | --- | --- | --- | | | Notes | | 2023 ...