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HIVE Digital Technologies Ltd. (formerly HIVE Blockchain Technologies Ltd.) is a pioneering company in the blockchain industry, focusing on the mining and sale of digital currencies. Established as the first cryptocurrency mining company to be publicly listed on the TSX Venture Exchange, HIVE is committed to leveraging green energy solutions in its operations. The company manages state-of-the-art data center facilities located in Canada, Sweden, Iceland, Switzerland, and Bermuda, with the majority of its revenue generated from Bermuda.
HIVE's core business revolves around providing infrastructure solutions for blockchain protocols like Bitcoin, Ethereum, and other cryptocurrencies. The company offers investors direct exposure to the growing crypto economy, bridging the gap between digital currencies and traditional capital markets.
Recent achievements include:
- Bitcoin Holdings Increase: As of February 2024, HIVE increased its Bitcoin holdings by 10%, with a HODL position of 2,131 Bitcoin, which further grew to 2,159 Bitcoin by March 2024.
- Technological Advancements: Integration of Bitmain S21 Antminers to enhance mining efficiency and reduce production costs.
- Strategic Events Participation: Representation at high-profile events like Paris Blockchain Week and AIM Summit London to discuss advancements in blockchain and AI technologies.
- Operational Efficiency: Consistent mining capacity exceeding 4.5 Exahash (EH/s) and significant upgrades to their mining fleet, including new shipments of Antminers.
The company focuses on maintaining a healthy balance sheet and anticipates higher demand for Bitcoin due to the increasing adoption of Bitcoin ETFs. HIVE's strategy includes maximizing cash flow return on invested capital while minimizing shareholder dilution.
Financial Condition and Partnerships: HIVE has a strong financial position with over $160 million in Bitcoin and $11 million in cash as of March 2024. The company's financial strategy is designed to ensure stability and growth, even amidst market volatility.
HIVE is committed to sustainability, sourcing primarily green energy for its data centers, and is actively expanding into artificial intelligence (AI) and high-performance computing (HPC). This diversification aims to leverage the global demand for AI data services, increasing the company's revenue streams beyond cryptocurrency mining.
To stay updated on HIVE's latest news and developments, visit the company's official website at www.HIVEdigitaltechnologies.com and follow @HIVEDigitalTech on Twitter.
HIVE Digital Technologies has announced a major acquisition of 8.6 EH/s of Bitmain S21+ Hydro chips, aiming to reach 15 EH/s of Bitcoin mining capacity by summer 2025. The initial order includes 13,480 units (4.3 EH/s) for delivery in April-May 2025 at $14/TH, with an option to purchase another 13,480 units within a year. The company projects $300 million in annualized revenue and $200 million in mining margin at current mining economics. By Q1 2025, HIVE will achieve 6.4 EH/s following fleet upgrades, improving global mining efficiency to 19.5 J/TH. The deployment in Paraguay leverages hydro power and is expected to yield an ROI of approximately 10 months.
HIVE Digital Technologies announces progress in its green energy strategy and support from proxy advisory firms for its upcoming Annual General Meeting. The company reports doubling its Bitcoin holdings while advancing its AI strategy with NVIDIA chips. Leading proxy firms ISS and Glass Lewis have recommended shareholders vote 'FOR' all proposed resolutions at the December 11, 2024 meeting. Frank Holmes, Executive Chairman, emphasizes these endorsements validate HIVE's commitment to sustainable growth and shareholder value.
HIVE Digital Technologies announces progress in its green energy strategy and support from proxy advisory firms for its upcoming shareholder meeting. The company reports doubling its Bitcoin holdings while advancing its AI strategy with NVIDIA chips. Leading proxy advisory firms ISS and Glass Lewis have recommended shareholders vote 'FOR' all proposed resolutions at the Annual General and Special Meeting scheduled for December 11, 2024. The meeting will take place in Vancouver, with a proxy voting deadline of December 9, 2024. Shareholders can vote online or by telephone, particularly important due to the current Canadian postal strike.
HIVE Digital Technologies has ordered 5,000 Canaan Avalon A15-194T ASIC miners, following a previous purchase of 6,500 units earlier in November 2024. This upgrade will increase HIVE's operational capacity from 5.6 EH/s to 6.4 EH/s, improving fleet efficiency from 22.3 J/TH to 19.5 J/TH by end of 2025. The company is also developing a 100 MW green energy facility in Paraguay, expected to reach 30 MW (2 EH/s) by early Q2 2025, with plans to achieve a total hashrate of 12.8 EH/s and fleet efficiency of 17.25 J/TH by Q3 2025.
HIVE Digital Technologies reported Q2 FY2025 results with $22.6 million in revenue, including $20.8M from digital mining and $1.9M from HPC services. The company achieved $5.6 million in Adjusted EBITDA and mined 340 Bitcoin during the quarter. HIVE's digital currency assets reached $165.2 million, including 2,604 Bitcoin. The company reported a net loss of $7.3 million, improving from $22.9 million loss in the previous year. HIVE's Bitcoin mining hashrate grew 14% to 5.6 EH/s, with plans to reach 12.5 EH/s by late 2025. The company raised $4.5 million through an ATM equity program and initiated a new $200 million ATM program.
HIVE Digital Technologies has announced a major order of 6,500 Canaan Avalon A1566 ASIC Miners and the groundbreaking of a 100 MW facility in Paraguay. The new miners, delivering 185 TH/s at 16.5 J/TH efficiency, will replace older 30 J/TH ASICs. The first 500 units will be operational this week, with remaining deliveries scheduled through March 2025. This upgrade will increase HIVE's capacity to 6 EH/s and improve fleet efficiency to 20.5 J/TH. The Paraguay facility's construction has begun, with 30 MW expected online by early Q2 2025, targeting a total hashrate of 12.5 EH/s with 17.6 J/TH efficiency when fully operational by Q3 2025.
HIVE Digital Technologies reported its October 2024 production results, mining 117 BTC (1% increase month-over-month) with an average mining capacity of 5.3 EH/s. The company's HODL portfolio reached 2,624 BTC, a 51% year-over-year increase, valued at over $184 million. Fleet efficiency maintained at 22.3 J/TH with a peak hashrate of 5.6 EH/s.
HIVE began construction of a new 100 MW facility in Paraguay, aiming to capture 2% of global Bitcoin mining capacity. The company also issued 2,442,000 restricted share units to employees, officers, directors, and consultants, vesting over two years.
HIVE Digital Technologies (NASDAQ: HIVE) has scheduled the release of its Q2 2025 financial results for November 13, 2024, before market open. The company, which specializes in green energy-powered blockchain infrastructure, will host an earnings conference call and webcast at 8:30 AM EST on the same day. Interested participants are advised to register approximately 5 minutes before the call begins. The earnings release and call replay will be available on HIVE's investor relations website.
HIVE Digital Technologies (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) reported its September 2024 performance, mining 112 Bitcoin and increasing its HODL portfolio to 2,604 BTC, a 50% growth over 12 months. The company maintained a strong mining capacity of 5.6 Exahash per second (EH/s) with an average of 5.3 EH/s, primarily using hydroelectric power.
Key highlights include:
- Mining efficiency of 21.1 Bitcoin per Exahash
- Daily production rate of 3.73 BTC
- Bitcoin HODL valued at over $160 million as of September 30, 2024
- Plans to upgrade ASIC fleet to S21 Pro models, potentially lowering Bitcoin production cost to $28,500
- Contribution to grid balancing in Sweden
- Partnership with Stifel for At-The-Market (ATM) offering
- Filed Base Shelf Prospectus for $300 million to support upgrades and expansion in Paraguay
HIVE Digital Technologies has announced an updated at-the-market (ATM) equity program, entering into an equity distribution agreement with Stifel as lead agent and a syndicate including Canaccord Genuity, Roth Canada, B. Riley Securities, and Northland Capital Markets. The ATM Program allows HIVE to sell up to US$200 million of common shares at its discretion, with the flexibility to terminate before reaching the full amount.
Proceeds will be used for general corporate requirements, debt repayments, and potential future acquisitions. Shares will be sold at the prevailing market price. Details are available in a prospectus supplement dated October 3, 2024, supplementing the base shelf prospectus dated September 11, 2024, filed in Canada and with the U.S. SEC.