HIVE - HIVE Blockchain Technologies reports FY results

2023-06-30 06:48:44 ET

• HIVE Blockchain Technologies press release ( NASDAQ: HIVE ): FY net loss of $236.4M.
• Reported a net loss of $236.4 million for the year, due to non-cash impairments of $182.0 million and depreciation of $81.7 million.
• Revenue of $106.3M (-50% Y/Y).
• For the fiscal year ended March 31, 2023, revenue was $106.3 million, a decrease of approximately 50% from the prior year primarily due to the fall in the Bitcoin price and increase in the mining difficulty of Ethereum and Bitcoin resulting from continued growth in global mining operations.
• The Company grew its Bitcoin mining ASIC hashrate by 50% in this fiscal year, from 2.0 Exahash in March 2022 to 3.0 Exahash in March 2023.
• In this fiscal year, the Company mined 3,258 Bitcoin from ASICs and 3,503 Bitcoin equivalent when including digital assets mined from GPUs.

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