HIVE Announces Quarterly Revenue of $29.2 Million, Adjusted EBITDA of $17.3 Million with an Increase in Bitcoin Holdings to 2,805

Core Insights - HIVE Digital Technologies Ltd. reported a strong financial performance for Q3 FY2025, with total revenue of $29.2 million, adjusted EBITDA of $17.3 million, and a net income of $1.3 million, marking a significant improvement from the previous year [5][10] - The company increased its Bitcoin holdings to 2,805, valued at over $260 million, representing a 263% year-over-year increase [5][6] Financial Performance - Total revenue of $29.2 million comprised $26.7 million from digital currency mining and $2.5 million from high-performance computing (HPC) services [6][8] - Adjusted EBITDA for the quarter was $17.3 million, reflecting effective financial management [10] - Net income after tax was $1.3 million, a notable recovery from a loss of $7.0 million in the same period last year [10] Operational Highlights - HIVE mined 322 Bitcoin during the quarter, contributing to its HODL position [6] - The HPC business achieved a $10 million annualized run rate based on quarterly revenues of $2.5 million, indicating growth in this segment [6] - The company's Bitcoin mining hashrate increased by 7.1% from 5.6 EH/s to 6.0 EH/s due to fleet upgrades [12] Strategic Initiatives - HIVE is expanding its operations in Paraguay with a 300 MW project aimed at increasing its hashrate from 6 EH/s to 25 EH/s by September 2025 [7][13] - The company plans to enhance its HPC revenue with new NVIDIA H100 and H200 clusters, targeting $20 million in high-margin run-rate revenue by Q2 2025 [7] Cash and Digital Assets - HIVE ended the quarter with $270.7 million in cash and digital currencies, positioning itself strongly for future growth [5] - Total digital currency assets were valued at $260.8 million, including the 2,805 Bitcoin held [6][11] Cost Management - The company maintained low general and administrative costs of $4.6 million, allowing for maximized cash returns on invested capital [9]