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RETRANSMISSION: HIVE Announces Quarterly Revenue of $29.2 Million, Adjusted EBITDA of $17.3 Million with an Increase in Bitcoin Holdings to 2,805
HIVEHIVE Digital Technologies .(HIVE) Newsfile·2025-02-12 11:00

Core Insights - HIVE Digital Technologies Ltd. reported a strong financial performance for Q3 FY2025, with total revenue of 29.2million,adjustedEBITDAof29.2 million, adjusted EBITDA of 17.3 million, and a net income of 1.3million,markingasignificantrecoveryfromanetlossof1.3 million, marking a significant recovery from a net loss of 7.0 million in the same period last year [5][10]. Financial Performance - Total revenue of 29.2millionwasgeneratedfromdigitalcurrencyminingandhigh−performancecomputing(HPC)hostingservices,with29.2 million was generated from digital currency mining and high-performance computing (HPC) hosting services, with 26.7 million from mining and 2.5millionfromHPC[6][8].−AdjustedEBITDAforthequarterwas2.5 million from HPC [6][8]. - Adjusted EBITDA for the quarter was 17.3 million, reflecting effective financial and operational management [10]. - The company reported a net income of 1.3millionaftertax,drivenbyforeignexchangegainsandunrealizedgainsoninvestments[6][10].BitcoinHoldings−HIVEendedthequarterwith2,805Bitcoin,valuedatover1.3 million after tax, driven by foreign exchange gains and unrealized gains on investments [6][10]. Bitcoin Holdings - HIVE ended the quarter with 2,805 Bitcoin, valued at over 260 million, representing a 263% year-over-year increase from 72 million at the end of December 2023 [5][11]. - The company mined 322 Bitcoin during the quarter, contributing to its HODL position [6][11]. Operational Efficiency - HIVE maintained a low G&A cost structure, reporting 4.6 million in G&A for Q3, up from 3.7millioninthesameperiodlastyear,whichallowedformaximizedcashreturnsoninvestedcapital[9].−Thecompany′soperatingmarginswere3.7 million in the same period last year, which allowed for maximized cash returns on invested capital [9]. - The company's operating margins were 6.1 million, indicating profitable operations from both Bitcoin mining and HPC business units [6][8]. Future Growth Plans - HIVE plans to expand its hashrate from 6 EH/s to 25 EH/s by September 2025 through a 300 MW expansion in Paraguay [7][14]. - The company aims to achieve 20millioninhigh−marginrun−raterevenuefromnewNVIDIAH100andH200clustersforcloudcomputingandAImodeltrainingservicesbyQ22025[7].EquityDistribution−HIVEenteredintoanequitydistributionagreementallowingthesaleofupto20 million in high-margin run-rate revenue from new NVIDIA H100 and H200 clusters for cloud computing and AI model training services by Q2 2025 [7]. Equity Distribution - HIVE entered into an equity distribution agreement allowing the sale of up to 200 million in common shares, with proceeds intended for data center equipment purchases, strategic investments, and general working capital [15][18]. - The company raised C122.6million(122.6 million (87.5 million) through the issuance of 21,367,527 common shares under the October 2024 ATM Equity Program [17].