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Hive Digital Technologies Ltd. (V:HIVE)

Business Focus: Cryptocurrency Mining

Sector:  Technology Industry:  Blockchain & Cryptocurrency
Company Contact
Address: 855 - 789 West Pender Street
Tel: N/A
IR: See website
Key People
Frank E. Holmes
Executive Chairman of the Board
Aydin Kilic
President, Chief Operating Officer
Darcy Daubaras
Chief Financial Officer
Business Overview
HIVE Digital Technologies Ltd is a Canada-based data center company. The Company owns green energy-powered data center facilities in Canada, Sweden, and Iceland. The Company also builds and operates data centers in North America and Europe. Its hardware powers cutting-edge projects ranging from Web3 to AI and high-performance computing (HPC). It operates a fleet of approximately 38,000 commercial-grade NVIDIA graphic processing units (GPUs). The Company's GPU fleet includes 4,000+ NVIDIA A40s w/ 48 GB RAM, 400+ NVIDIA RTX A6000s w/ 48 GB RAM, 12,000+ NVIDIA RTX A5000s w/ 24 GB RAM and 20,000+ NVIDIA RTX A4000s w/ 16 GB RAM. It operates over 100 MW of data centers in Canada. The HIVE Cloud is an enterprise-class service offering affordable computers for demanding applications, including AI training and inference. It also operates 46 MW in Iceland and Sweden. It also operates a 30 MW data center in Lachute, Quebec and a 70 MW data center in New Brunswick.
Financial Overview
For the six months ended 30 September 2023, HIVE Digital Technologies Ltd revenues decreased 37% to $46.3M. Net loss decreased 69% to $40.8M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Lower net loss reflects Impairment of equipment decrease from $32.6M (expense) to $0K, Unrealized gain (loss) on investments decrease of 93% to $631K (expense).
Employees: 18 as of Mar 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $323.55M as of Sep 30, 2023
Annual revenue (TTM): $107.18M as of Sep 30, 2023
EBITDA (TTM): -$1.38M as of Sep 30, 2023
Net annual income (TTM): -$196.93M as of Sep 30, 2023
Free cash flow (TTM): $42.49M as of Sep 30, 2023
Net Debt Last Fiscal Year: N/A
Shares outstanding: 87,471,114 as of Nov 9, 2023
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization