HIVE Posts Quarterly Revenue of $37.2 Million

Fazzaco learned that HIVE Blockchain Technologies has posted its financial figures in the first quarter 2021, ended 30 June 2021. The company posted a significant jump in gross revenue and net income.

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Gross revenue from digital currency mining was $37.2 million in the first quarter, up 466% from the same quarter last year, and increase 11% than the previous quarter. Record quarterly net income of $18.6 million, increasing significantly from $1.8 million a year earlier, and $4.3 million higher than the previous quarter. 

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During the quater, HIVE has mined 225 Bitcoin and over 9,700 Ethereum. The company also emphasized the significance of Ethereum mining before.

“The first quarter of fiscal 2022 has continued the momentum that we had in fiscal 2021. It’s been an incredible year for HIVE. Despite the effects of COVID-19 and associated supply chain issues, we have achieved record results and continued to increase our Ethereum and Bitcoin mining capacity.” Frank Holmes, Interim Executive Chairman of HIVE, said.