Hive Digital Technologies reports jump in Q2 Revenue, expands Bitcoin and high-performance computing [Video]

Hive Digital Technologies Chief Financial Officer Darcy Daubaras joined Steve Darling from Proactive to share news the company generated $22.6 million in revenue for Q2 2024, primarily from digital currency mining and high-performance computing (HPC) hosting services. The HPC sector has been a growing focus for Hive, now at an annualized run rate of $9.0 million, enhancing the company’s position in the HPC market.

During the quarter, Hive successfully mined 340 Bitcoin, further bolstering its substantial digital asset holdings. As of September 30, the company held $165.2 million in digital assets, including 2,604 Bitcoin, aligning with its strategy to strengthen its HODL position. Using a Bitcoin price of $63,300 at quarter-end, Hive’s reserves have doubled over the past year. The company reported an Adjusted EBITDA of $5.6 million, signaling strong operational management and financial performance.

Hive’s dedication to green energy use in digital currency mining also positions it favorably as …