Hive Digital Clocks $ 29.2 million in the revenue of the third quarter with Bitcoin Hodl – TradingView News

The HIVE DIGIAL Data Center has been reported on profits and revenue growth for the last quarter of 2024, driven by standard bitcoin reserves and high -performance computing work (HPC).

In the quarter ended on December 31, HPTO Mining and HPC revenues reached $ 29.2 million. HPC has achieved $ 2.5 million in quarterly revenues at an annual operating rate of $ 10 million.

The profits of the modified company amounted to 17.3 million dollars, while the net income after the tax amounted to $ 1.3 million.

322 bitcoin cell btcusd During the quarter, it helped strengthen its “Hodl” website to 2,805 BTC. Bitcoin value on his books was $ 260.8 million by the end of the quarter.

“This represents an increase of 263 % on an annual basis of $ 72 million of Bitcoin in our public budget at the end of December 2023,” said Frank Holmes, CEO of HIVE.

Among the companies circulating publicly, HIVE is one of the 15 largest bitcoin holders in the world, according to industry data.

The company has finished the quarter with $ 270.7 million cash and Crypto Holdings, according to Darsi Dobras, the financial manager of HIVE.

“Our suspension of investors is given a bitcoin as a description,” Eydeen Kelik, President and CEO of Hive Digital, told Cointelegraph in a written statement.

“We are the money of the sector, as the number of bitcoin is approximately 75 % of the cell, according to the numbers of December 31,” said Keelic. “We have also used Hodl strategically to finance expansion,” especially for the company’s Paraguay facility.

HIVE is not the only Bitcoin mine that reports the positive winds of profits in the last three months of 2024. Crypto Miner Cleanspark has also also an increase in revenue and profitability with the addition of more bitcoin to corporate cabinets.

These results are compatible with the January report by digital mining solutions and bitcoiningstock, which shows that more public miners increase their BTC reserves, probably in anticipation of further bullish direction.

Operations of acquisitions and expansion of focus

Although HIVE is still one of the largest Bitcoin mining operations, its business strategy has expanded to include artificial intelligence and other high -performance computing applications.

In September, Cointelegraph told the reuse of NVIDIA graphics processing units for artificial intelligence tasks could generate more than two dollars in an hour revenue, compared to only $ 0.12 for encryption mining. The company said that current data centers are promoted to support additional work burdens of artificial intelligence.

In January, the company announced a 200 -megawatt facility in BitFarms for $ 85 million, based on previous plans to add up to 300 megawatts of operational capacity in the country.

At the beginning of the year, HIVE also confirmed that it plans to move from Vancouver, Canada, to the US state of Texas after Donald Trump’s presidential victory.

A report issued by Asset Manager Coinshares suggested that you embrace more Bitcoin Ai miners due to the increasing costs of mining.

The report said: “Bitcoin mining industry faced major challenges this year, with revenue and retail rates,” adding that less profitable miners “may decrease”.[diversify] Income flows to include artificial intelligence. ”

Artificial Intelligence Eye: 9 strange things about Deepseek R1