The publicly listed Wall Road Bitcoin (BTC) miner HIVE Digital Applied sciences (NASDAQ: HIVE) reported fourth-quarter income of $29.2 million and adjusted EBITDA of $17.3 million. Whereas the numbers are barely decrease than in the identical interval a yr in the past, the corporate considerably expanded its Bitcoin holdings to 2,805 tokens valued at $260.8 million.
The cryptocurrency mining firm posted a web earnings of $1.3 million for the quarter ended December 31, 2024, marking an enchancment from a $7.0 million loss in the identical interval final yr. The corporate’s digital foreign money mining operations generated $26.7 million in income, whereas its rising high-performance computing (HPC) section contributed $2.5 million.
Frank Holmes, Government Chairman of HIVE
“We ended calendar yr 2024 with a document Bitcoin HODL of two,805 Bitcoin valued at over $260 million,” Frank Holmes, HIVE’s Government Chairman, said. “This represents a 263% year-over-year improve from $72 million of Bitcoin on our stability sheet on the finish of December 2023.”
“We achieved this whereas preserving shareholder dilution among the many lowest within the business, with our complete shares excellent growing solely 51% over the identical interval to fund our development.”
Regardless of going through considerably larger community problem, the corporate has maintained sturdy manufacturing ranges whereas enhancing its infrastructure. HIVE’s hashrate has grown from 4.01 EH/s in 2023 to six.0 EH/s by the tip of 2024.
The corporate additionally reported its January Bitcoin productions per week in the past, mining 102 BTC.
25 EH/s by September 2025 for Wall Road Bitcoin Miner
The corporate’s enlargement plans in Paraguay are progressing, with a focused improve in hashrate from 6 EH/s to 25 EH/s by September 2025. The expansion technique features a 300-megawatt facility improvement, incorporating each new development and the pending acquisition of the Yguazú website from Bitfarms Ltd.
On the finish of 2024, the corporate introduced its determination to maneuver its headquarters from Vancouver, Canada, to San Antonio, Texas, signaling a strategic shift towards the U.S. market.
Aydin Kilic, President & CEO of HIVE
HIVE’s HPC enterprise can also be displaying development, reaching a $10 million annualized run fee. The corporate expects this section to achieve $20 million in run-rate income by the second quarter of 2025, pushed by its NVIDIA H100 and H200 clusters deployment for AI mannequin coaching providers.
“Waiting for calendar 2025, we’re excited to execute on a transformative yr with a goal to place HIVE as one the most important Bitcoin miners on the planet,” Aydin Kilic, President & CEO, said. “Our 300 MW enlargement in Paraguay has an goal to drive a 4x improve in our hashrate from 6 EH/s to 25 EH/s by September, 2025.”
The corporate additionally maintained comparatively low common and administrative bills of $4.6 million, barely up from $3.7 million within the earlier yr. HIVE’s monetary place stays sturdy, with $270.7 million in mixed money and digital currencies at quarter-end.
