HIVE Blockchain Technologies (TSE:HIVE) has released an update.
HIVE Blockchain Technologies reported a revenue of $114.5 million and an Adjusted EBITDA of $37.5 million for the fiscal year ended March 31, 2024, with a notable increase in Bitcoin mining hashrate and 2,287 Bitcoin held on their balance sheet. Despite a net loss of $51.2 million primarily due to non-cash depreciation charges, the company’s digital currency mining operations and high-performance computing (HPC) segment drove a gross operating margin of $40.3 million. Executive Chairman Frank Holmes highlighted the company’s focus on green energy and efficiency in operations, emphasizing HIVE’s transparent and consistent financial reporting under IFRS compared to US GAAP.
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