According to Foresight News, HIVE Digital, a cryptocurrency mining company, has released its financial report up to March 31, 2024. The report reveals that the company's revenue from digital currency mining, excluding its HPC business, stood at $111 million for the fiscal year. The total operating profit was $40.3 million, representing an operating profit margin of 36%.
In addition, the company's Bitcoin mining ASIC computing power increased by 57%, growing from 3.0 Exahash in March 2023 to 4.7 Exahash in March 2024. Over the course of the fiscal year, the company mined 3,123 Bitcoins, including digital assets mined from GPUs.
As of March 31, 2024, HIVE's balance sheet showed 2,287 Bitcoins, valued at $161.3 million. This significant growth in Bitcoin mining and revenue underscores the company's successful strategies and operations in the digital currency sector.
