HIVE Blockchain Q3 F2023 Results Earnings Webcast

Hive Blockchain Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: HBFA) (the "Company" or "HIVE") pleased to announce that our fiscal Q3 earnings webcast for the three and nine months ended December 31, 2022 is now available.

This release represents the first full quarter after the Ethereum Merge, which negatively impacted HIVE's revenue and mining margins.

However, the Company maintained a positive mining margin and grew Bitcoin production year-over-year, despite a 60% increase in mining difficulty.

Additionally, HIVE saw rapid growth in its high-performance computing (HPC) business line, which utilizes our powerful GPUs. This business reached a $1.3 million run rate, and management sees significant room for growth in this area.

HIVE operates a fleet of powerful NVIDIA 80GB commercial GPUs, and with the recently advances in artificial intelligence (AI), such industrial GPUs are in high demand.

Highlights:

  • 13% YoY increase in Bitcoin mined, despite ~60% difficulty increase
  • $3.6 million gross mining margin
  • Bitcoin holdings increased 30% YoY
  • Pre-tax net loss of $90 million due to impairment in value of ASIC's, GPU's and digital currencies
  • Reached $1.3 million run rate for HPC/AI operations

Select slides from the presentation:

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5335/156599_41fcf50ed4ef9a36_001.jpg

Figure 1

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5335/156599_41fcf50ed4ef9a36_001full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5335/156599_41fcf50ed4ef9a36_002.jpg

Figure 2

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5335/156599_41fcf50ed4ef9a36_002full.jpg

Cannot view this image? Visit: https://images.newsfilecorp.com/files/5335/156599_41fcf50ed4ef9a36_003.jpg

Figure 3

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5335/156599_41fcf50ed4ef9a36_003full.jpg

View the full presentation on YouTube.

About Hive Blockchain Technologies Ltd.

Hive Blockchain Technologies Ltd. went public in 2017 as the first cryptocurrency mining company with a green energy and ESG strategy.

HIVE is a growth-oriented technology stock in the emergent blockchain industry. As a company whose shares trade on a major stock exchange, we are building a bridge between the digital currency and blockchain sector and traditional capital markets. HIVE owns state-of-the-art, green energy-powered data centre facilities in Canada, Sweden, and Iceland, where we source green energy to mine on the cloud and endeavour to build a significant HODL position of Bitcoin. Since the beginning of 2021, HIVE has held in secure storage the majority of its ETH and BTC coin mining rewards. Our shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of cryptocurrencies such as BTC. Because HIVE also owns hard assets such as data centers and advanced multi-use servers, we believe our shares offer investors an attractive way to gain exposure to the cryptocurrency space.

For more information and to register to HIVE's mailing list, please visit www.HIVEblockchain.com. Follow @HIVEblockchain on Twitter and subscribe to HIVE's YouTube channel.

On Behalf of Hive Blockchain Technologies Ltd.

"Frank Holmes"
Executive Chairman

For further information please contact:

Frank Holmes
Tel: (604) 664-1078

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/156599

News Provided by Newsfile via QuoteMedia

HIVE:CC
The Conversation (0)
Crypto Market Update: Robinhood Secures S&P 500 Spot as SEC Closes Crypto Probe

Crypto Market Update: Robinhood Secures S&P 500 Spot as SEC Closes Crypto Probe

Here's a quick recap of the crypto landscape for Monday (September 8) as of 9:00 a.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Keep reading...Show less
Smartphone displaying crypto charts with a Bitcoin coin on a black background.

Crypto Market Update: SEC, CFTC Open Door to Spot Crypto Trading on Registered Exchanges

Here's a quick recap of the crypto landscape for Wednesday (September 3) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Keep reading...Show less
Stablecoin symbols on a glowing abstract background.

Crypto Market Update: Stablecoins Top US$283 Billion in Circulation, Bitcoin Decline Continues

Here's a quick recap of the crypto landscape for Friday (August 29) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Keep reading...Show less
Ethereum logo floating over reflective water with a sunset sky in the background.

Crypto Market Update: ETH Funds Absorb US$1.3 Billion in Weekly Inflows, CFTC Moves to Secure DeFi Market

Here's a quick recap of the crypto landscape for Wednesday (August 27) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Keep reading...Show less
Bitcoin on fire with a price chart going up.

Is Now a Good Time to Buy Bitcoin?

Bitcoin is prone to price volatility, with wide swings to the upside and downside, making it difficult for investors to know when the right time to buy the top crypto is.

There has been renewed interest in cryptocurrencies following the election of US President Donald Trump, leading the Bitcoin price to soar to new heights in 2025, as investors and other industry insiders speculate on how the Trump administration's policies could further grow the sector and encourage mainstream adoption.

Trump ran on a platform that promised to make the US the Bitcoin capital of the world, vowing to establish a national reserve for the asset, and several states have already introduced legislation to create similar reserves within their borders.

The price of Bitcoin pulled back to under US$100,000 in February 2025 and fell as low as US$75,000 by April 9, marking a strong buying opportunity for crypto investors. Bitcoin rebounded in May, breaking past the US$100,000 level and surging further over the summer to hit fresh all-time highs in July and August of more than US$120,000 per BTC.

Keep reading...Show less
Red Bitcoin symbol with a declining chart and globe backdrop.

Crypto Market Update: Dormant Whale Offloads US$2.7 Billion in Bitcoin, Market Cap Drops

Here's a quick recap of the crypto landscape for Monday (August 25) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Keep reading...Show less

Latest Press Releases

Related News

×