Overview
- The company reported $87.3 million in revenue and $31.5 million in adjusted EBITDA for the quarter ended Sept. 30, while booking a GAAP net loss of $15.8 million tied to accelerated depreciation.
- HIVE mined 717 Bitcoin as mining revenue reached $82.1 million, with an average operational hashrate of 16.2 EH/s in the quarter and approximately 25 EH/s disclosed for November.
- A 300 MW buildout in Paraguay was completed, bringing the hydro-powered footprint to 540 MW and securing a path to 400 MW in Paraguay through power purchase agreements.
- Buzz, the high-performance computing unit, generated a record $5.2 million in revenue, and a new Dell agreement will deploy 504 liquid-cooled GPUs at the Bell AI Fabric data center.
- Shares were volatile around the results, and analysts at Rosenblatt and H.C. Wainwright reiterated Buy ratings with price targets near $10.