HIVE Sees A Significant Jump in Revenues in 2021

HIVE Blockchain Technologies, the first cryptocurrency mining company with a green energy and ESG strategy, recently reported its financials for the full year ended March 31, 2021, indicating a significant jump in revenues.

More specifically, income from digital currency mining came in at $66.7 million, 174% higher than the prior year. Net income stood at 42.5 million, compared with a loss of $1.9 million a year earlier. Gross mining margin increased to $50.1 million. This number for the last year was $8.5 million.

Additionally, net income per share grew to $0.12 from a loss of $0.01 during the prior year. The company mined 595 Bitcoin and over 96,300 Ethereum during the year. Moreover, digital currency assets reached $57.5 million.

“Fiscal 2021 was an incredible year for HIVE. Despite the effects of COVID-19 we have achieved record results and continued to increase our Ethereum and Bitcoin mining capacity,” said Frank Holmes, Interim Executive Chairman of HIVE. “During the fiscal year, we assumed direct responsibility for all our cryptocurrency mining operations from our former strategic partner and continued to see significant reductions in the overhead of these operations, which included our Ethereum mining facility in Iceland. During the COVID-19 pandemic we completed the acquisition of Cryptologic Corp. in April 2020, giving us a substantial Bitcoin cloud mining operation, in Quebec, Canada.”

​As Fazzaco reported earlier, HIVE has issued a warning about a number of imposter groups​ that are pretending to be them and are involved in programs to defraud individuals.