O capital de giro da empresa também diminuiu em US$ 112,4 milhões durante o trimestre, já que a empresa atribuiu a diminuição à “venda de moedas digitais durante o trimestre para financiar a expansão e um ajuste de marcação a mercado no HODL de fechamento – uma estratégia de investimento em criptomoeda em que os indivíduos compram e mantêm ativos por longos períodos de saldos de tempo das moedas digitais detidas (reavaliação de moedas digitais).”
No entanto, HIVE também relatou receita trimestral de $ 44,2 milhões, um aumento de 13% em comparação com o trimestre correspondente do ano financeiro anterior.
“Alcançamos uma forte margem bruta de mineração de US$ 27 milhões no trimestre, um aumento de 18% em relação ao trimestre anterior de US$ 22,9 milhões”, disse a empresa. “Essa conquista fiscal foi impulsionada por nossas operações globais de mineração Bitcoin e Ethereum, que experimentaram um crescimento significativo da taxa de hash durante esse período.”
Afirmando ser “o minerador de criptomoedas mais eficiente com base em ativos digitais minerados por Exahash (comumente medido como a quantidade de Bitcoin minerado por Exahash da taxa de hash relatada)”, o HIVE relatou um aumento em sua margem de mineração de 42% no último trimestre para 61 % neste trimestre.
“HIVE has been able to consistently mine with strong profit margins during periods of market volatility, as a result of being globally diversified and enjoying low power costs in Sweden and Quebec, and higher profit margins from the Ethereum mining business,” HIVE said. HIVE Mined 1,338 Bitcoin and 7,675 Ethereum The company mined 1,338 Bitcoin equivalent, including 821 green and clean Bitcoin, as well as 7,675 green and clean Ethereum. HIVE said that its overall production of digital currencies increased by 7% QoQ and comprised 4% more Bitcoin produced and 20% more Ethereum produced. Talking about the positives on the balance sheet, Frank Holmes, HIVE’s executive chairman, said, “We wish to again thank our loyal shareholders for believing in our vision to mine both Ethereum and Bitcoin to generate robust cash flow returns on invested capital and we believe our results continue to validate the significant contribution to our strategy to mine both BTC and ETH and HODL as many coins as possible.” The company also pointed out that its Bitcoin production of 821 Bitcoin this quarter represents an increase of 265% YoY, as the company produced 225 Bitcoin for the period ending June 30, 2021. “This large increase in the quantity of Bitcoin production stands even as network difficulty has effectively doubled during this one-year period,” HIVE said. “It was an extremely challenging quarter for the global digital asset ecosystem, where we saw the capitulation of Bitcoin and Ethereum prices not seen since 2020,” Holmes said. “On a relative basis, we are very pleased with our company’s performance amongst our peers in the digital asset industry.” On the Flipside Holmes urged investors to focus on HIVE’s operating earnings from the company’s data centers, which generate digital assets, because as a result of recent changes to IFRS reporting rules, the quarterly mark-to-market fluctuations in the value of HIVE’s investment portfolio in digital assets must be reflected on the company’s income statement each quarter. HIVE said that it is dedicated to navigating this crypto storm for its shareholders. Why You Should Care HIVE attributed its loss of $95.3m to depreciation, unrealized valuation losses on digital currencies and investments, and impairment charges on equipment and equipment deposits, which in turn were all affected by lower Bitcoin and Ethereum prices seen in June and July 2022.
