The
publicly listed Wall Road Bitcoin (BTC) miner HIVE Digital Applied sciences (NASDAQ:
HIVE) reported fourth-quarter income of $29.2 million and adjusted EBITDA of
$17.3 million. Whereas the numbers are barely decrease than in the identical interval a
12 months in the past, the corporate considerably expanded its Bitcoin holdings to 2,805
tokens valued at $260.8 million.
HIVE Digital’s Bitcoin
Holdings Surge Previous $260 Million
The
cryptocurrency mining firm posted a web revenue of $1.3 million for the
quarter ended December 31, 2024, marking an enchancment from a $7.0 million
loss in the identical interval final 12 months. The corporate’s digital foreign money mining
operations generated $26.7 million in income, whereas its rising
high-performance computing (HPC) phase contributed $2.5 million.
“We ended calendar 12 months 2024 with a file
Bitcoin HODL of two,805 Bitcoin valued at over $260 million,” Frank Holmes,
HIVE’s Govt Chairman, acknowledged. “This represents a 263% year-over-year
improve from $72 million of Bitcoin on our steadiness sheet on the finish of
December 2023.”
“We
achieved this whereas conserving shareholder dilution among the many lowest within the
business, with our whole shares excellent rising solely 51% over the identical
interval to fund our progress.”
Regardless of
going through considerably increased community issue, the corporate has maintained
sturdy manufacturing ranges whereas bettering its infrastructure. HIVE’s hashrate
has grown from 4.01 EH/s in 2023 to six.0 EH/s by the tip of 2024.
The corporate additionally reported its January Bitcoin productions every week in the past, mining 102 BTC.
25 EH/s by September 2025 for Wall Road Bitcoin Miner
The
firm’s enlargement plans in Paraguay are progressing, with a focused improve
in hashrate from 6 EH/s to 25 EH/s by September 2025. The expansion technique
features a 300-megawatt facility growth, incorporating each new
development and the pending acquisition of the Yguazú web site from Bitfarms Ltd.
On the finish of 2024, the corporate introduced its choice to maneuver its headquarters from Vancouver, Canada, to San Antonio, Texas, signaling a strategic shift towards the U.S. market.
HIVE’s HPC
enterprise can also be exhibiting progress, attaining a $10 million annualized run price.
The corporate expects this phase to achieve $20 million in run-rate income by
the second quarter of 2025, pushed by its NVIDIA H100 and H200 clusters
deployment for AI mannequin coaching providers.
“Looking forward to calendar 2025, we’re excited
to execute on a transformative 12 months with a goal to place HIVE as one the
largest Bitcoin miners on this planet,” Aydin Kilic, President & CEO, acknowledged.
“Our 300 MW enlargement in Paraguay has an goal to drive a 4x improve in
our hashrate from 6 EH/s to 25 EH/s by September, 2025.”
The corporate
additionally maintained comparatively low normal and administrative bills of $4.6
million, barely up from $3.7 million within the earlier 12 months. HIVE’s monetary
place stays sturdy, with $270.7 million in mixed money and digital
currencies at quarter-end.
This text was written by Damian Chmiel at www.financemagnates.com.
