RETRANSMISSION: 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 recovery from a net loss of $7.0 million in the same period last year [5][10]. Financial Performance - Total revenue of $29.2 million was generated from digital currency mining and high-performance computing (HPC) hosting services, with $26.7 million from mining and $2.5 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 $1.3 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 $3.7 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 $20 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 C$122.6 million ($87.5 million) through the issuance of 21,367,527 common shares under the October 2024 ATM Equity Program [17].