HIVE Blockchain Technologies Ltd
XTSX:HIVE
HIVE Blockchain Technologies Ltd
HIVE Blockchain Technologies Ltd. engages in building a bridge from the block chain sector to traditional capital markets. The company is headquartered in Vancouver, British Columbia and currently employs 19 full-time employees. The firm owns green energy-powered data center facilities in Canada, Sweden, and Iceland which produces minted digital currencies. The Company’s digital currencies consist of Ethereum, Ethereum Classic, and Bitcoin. The firm also provides shareholders with operating margins of digital currency mining as well as a portfolio of crypto coins. The firm also owns a data center campus in New Brunswick. The Company’s geographic segments include Canada, Sweden, Iceland and Bermuda. The firm provides its services from the blockchain sector to traditional capital markets.
HIVE Blockchain Technologies Ltd. engages in building a bridge from the block chain sector to traditional capital markets. The company is headquartered in Vancouver, British Columbia and currently employs 19 full-time employees. The firm owns green energy-powered data center facilities in Canada, Sweden, and Iceland which produces minted digital currencies. The Company’s digital currencies consist of Ethereum, Ethereum Classic, and Bitcoin. The firm also provides shareholders with operating margins of digital currency mining as well as a portfolio of crypto coins. The firm also owns a data center campus in New Brunswick. The Company’s geographic segments include Canada, Sweden, Iceland and Bermuda. The firm provides its services from the blockchain sector to traditional capital markets.
Record Revenue: HIVE reported record quarterly revenue of $93 million, more than tripling year-over-year, driven by Bitcoin mining expansion and new HPC growth.
Margin Expansion: Gross operating margin rose to $32 million and 35% of revenue, up from 18% a year ago, despite recent market volatility.
Noncash Net Loss: The company posted a $91 million net loss, mainly due to $57 million in depreciation and $31 million in noncash derivative revaluation, not operational cash flow.
HPC Growth Acceleration: HIVE secured a two-year, $30 million contract for NVIDIA Blackwell GPUs, boosting HPC ARR by 70% to $35 million and setting the stage for $225 million ARR by year end.
Bitcoin Production & Fleet Efficiency: Produced 879 Bitcoin in the quarter, increased installed capacity to 25 exahash, and improved fleet efficiency by 5% through equipment upgrades.
Strong Balance Sheet: Ended the quarter with $14 million cash, $14 million in digital assets, and $91 million in current assets, maintaining conservative leverage.
Strategic Expansion: Continued expansion in Paraguay and Canada, with 440 megawatts online and 100 more in progress, and a focus on converting New Brunswick to Tier 3 HPC data center.
Guidance & Outlook: Management reaffirmed ambitious targets for GPU deployment and ARR growth in 2026, emphasizing nimble, capital-efficient execution and strong ongoing demand.
